[Congressional Record Volume 141, Number 62 (Tuesday, April 4, 1995)]
[House]
[Pages H4152-H4153]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SUPER-WEALTHY GAIN AT EXPENSE OF COLLEGE STUDENTS
The SPEAKER pro tempore (Mr. Bilbray). Under a previous order of the
House, the gentlewoman from Connecticut [Ms. DeLauro] is recognized for
5 minutes.
Ms. DeLAURO. Mr. Speaker, in the coming days, pundits and politicos
will take to the airwaves to grade the Republican Contract With America
and the first 100 days of the 104th Congress. But, how you grade the
Contract With America all depends on where you're sitting:
For instance, if you're a billionaire tax evader sitting on a
Caribbean beach somewhere, give the contract an A+, because Republicans
have preserved the tax loophole that allows you to renounce your
citizenship and avoid paying taxes.
And, if you're a lobbyist or a corporate special interest sitting in
a wood-paneled boardroom, give the Contract an A+, because it
eliminates that pesky corporate minimum tax and rolls back health and
safety regulations.
But, if you're a senior citizen sitting in your New England
apartment, the contract gets a failing grade, because it cuts your
heating assistance for next winter.
If you're a elementary school student sitting down to a reduced-price
lunch in the school cafeteria, the contract gets a failing grade,
because it cuts school lunch and deprives thousands of children the one
balanced meal they get all day.
And, if you're Victoria Dunn, a mother and college student who I met
last week, the contract fails you twice.
Victoria, a 37-year-old student who also has a daughter who is a
college freshman, came to a student loan forum I sponsored on Friday in
my district. She came because Republican cuts in student loans threaten
both her's and her daughter's education.
``I'm scared to death about this,'' she told me. ``God forbid this
happens and I can't finish my degree. It's my hope for my future.''
In Connecticut, the Republican proposal would increase the cost of a
college education by $4,547 per student. Nationwide the Republican
proposal represents a $13 billion cut that will result in the largest
increase in colleges costs in history. That's an increase that will end
the dream of a college degree for many students in my State. Students
like Victoria Dunn.
How you rate the first 100 days of the Republican-led Congress, all
depends on your perspective. If you happen to be a lobbyist, a
millionaire, a billionaire, or a corporate special interest--you're a
winner. But, if you happen to be a child, a senior citizen, a student
or a middle-class family, unfortunately, you lose.
I would now like to yield to my colleague from North Carolina, Mrs.
Clayton.
Mrs. CLAYTON. I thank the gentlewoman from Connecticut for yielding.
[[Page H4153]] Mr. Speaker, there are winners and losers in this tax
bill. Americans should know, making the tax bill fair to Americans and
who wins and who loses in that should be reemphasized. I just want to
ask the gentlewoman from Connecticut, who do you think really are the
big winners in this again? I understand that we are saying this is
going to be tax relief all America is going to benefit from. The
gentlewoman who spoke earlier said that when next tax time comes, who
will be the great winners in this? Will it be the average American who
is under the $50,000 or will it be those who are working every day
trying to send their kids to school, or will it be the very poor or who
really will win under this big tax break we are going to give by
Friday? Who are the winners under this?
Ms. DeLAURO. Mr. Speaker, it is very clear. I tell the American
people that they need to take a look at the numbers, not to listen to
what we have to say, but it is clear those who make over $200,000 in
this country, the richest 1 or 2 percent in this Nation are going to
get an $11,000 tax break.
Those people who are working middle-class families who are making
$30,000, $40,000, and $50,000 a year are looking at a pittance in terms
of a tax break. They are looking at $274.
Now, you tell me where that is equity. The other piece of this tax
cut package says to the richest corporations in this Nation, let's
repeal the alternative minimum tax, that floor that you have to pay in
taxes to this Nation to contribute to the well-being of this country,
let's eliminate and you pay zero taxes to the United States.
Mrs. CLAYTON. Will the gentlewoman yield?
Ms. DeLAURO. I would be happy to yield.
Mrs. CLAYTON. Mr. Speaker, also being part of an American is to have
equity, and part of it we think the compassion of this American society
would say that those that are most vulnerable should not have to pay at
the expense of allowing those who are the very rich, that are
schoolchildren, that are senior citizens, that are veterans. There are
people who are paying dearly for this tax, in fact we have already paid
for it and we will pay more.
Mr. Speaker, tomorrow we will begin debate on the Republican tax cut
proposal.
At a time when low- and middle-income Americans are struggling to
make ends meet, relief is being given to the rich, while burdens are
being borne by the poor.
The tax cut plan gives $11,000 to those who make more than $200,000.
For those who make less than $30,000, the plan allows a paltry $124.
The plan reduces the capital gains tax to its lowest in 40 years, and
gives the richest 1 percent in America, 20 percent of the tax breaks.
A $500 tax credit is available to taxpayers who earn up to $200,000.
While cutting taxes for the rich, the plan cuts programs for
children, senior citizens, and college students.
Who loses under the plan, Mr. Speaker?
The Federal School Lunch Program, serving 25 million children each
day; the Women, Infants, and Children Program, serving 100,000 pregnant
women and children; and the student loan program, serving 4\1/2\
million students.
Who wins under the plan?
Those who have made billions in America and now renounce their
citizenship to avoid taxes; those who have made millions and now want a
tax giveaway on top of profits earned from investments; and those who
have made the most money from those who have the least money.
To pay for this tax cut, the Republican majority has constructed a
series of attacks on programs that benefit the poor.
Most of the money comes from spending caps and from drastic cuts in
public assistance programs.
Little or none of the money comes from those with a lot of money.
We have heard that, ``winning isn't the most important thing, it's
the only thing.''
Under the plan, those who need to win lose and those who do not need
to win prevail.
In the end, Mr. Speaker, I suppose children, seniors, pregnant women,
and students will win.
After all, winning is, ``the only thing.''
I thank the gentlewoman for yielding.
Ms. DeLAURO. I thank the gentlewoman.
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