Schakowsky added, however, that this goal must be achieved while still protecting Social Security and Medicare.  That is why she joined U.S. Representative Barney Frank (D-MA) and others to announce legislation to repeal the reduction in the top income tax as of January 1, 2002, putting those funds that result from the change into the Social Security and Medicare Trust Funds.  Frank is the chief sponsor of the legislation.

“If you ask the American people which is more important: funding efforts to respond to terrorist attacks, protecting Social Security and Medicare, or providing tax cuts to the rich,  I am confident that tax cuts to the wealthiest Americans will come a distant last,” Schakowsky said.
 
“It was clear before the attacks of last week that we had greater priorities in this countries than rewarding a million millionaires with tax breaks.  Even before September 11, many of us believed that providing safe schools for our children, affordable drugs for our parents and grandparents, housing for our families, and guaranteeing the long term solvency of Social Security and Medicare should have taken priority over a tax cut that benefits the richest Americans,” Schakowsky added.

“Today, with the added cost of rebuilding and combating terrorism, we are facing additional priorities.  At this time of national crisis, it is inconceivable to me that anyone could put the needs of the wealthy ahead of these enormous public demands. Our nation simply cannot afford to continue this policy,” Schakowsky concluded.