[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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