[Congressional Record Volume 141, Number 62 (Tuesday, April 4, 1995)]
[House]
[Page H4160]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                  REPUBLICAN TAX BILL BENEFITS WEALTHY

  The SPEAKER pro tempore (Mr. Bilbray). Under a previous order of the 
House, the gentleman from Georgia [Mr. Bishop] is recognized for 5 
minutes.
  Mr. BISHOP. Mr. Speaker, as the 100 days come to an end, I want to 
compliment our friends on the other side of the aisle for the positive 
things that have happened, including, for example, the enactment of 
measures to put Congress under the same laws that we impose on others 
and to restrict unfunded mandates on the States and on communities
  Unfortunately, though, these bright moments have been too few and too 
far between. All too soon, the 100 days became excessively partisan and 
very extreme. In too many instances, the Contract With America became a 
means of lining the pockets of the wealthy at the expense of the poor 
and middle-income working families. It became a flamboyant, circus-
like, promotional vehicle worthy of P.T. Barnum at his best. And yes, 
tomorrow the circus does come to town.
  As we consider the Republican tax bill and the offsetting spending 
cuts, just consider who the winners really are. The wealthiest 10 
percent of our population get 47 percent of the benefits. The 
wealthiest 5 percent get 36 percent of the benefits. The wealthiest 1 
percent get 20 percent of the benefits. This causes a revenue loss of 
$178 billion in the first 5 years, and $458 billion in the second 5 
years.
  Is this loss of revenue going to reduce the deficit? No. Is this loss 
of revenue going to balance the budget? No. It is going to the rich.
  Who is going to pay for it? I will tell you who is going to pay for 
it: hungry children who are cut from school lunches, mothers and 
infants who depend on WIC for healthy births and early childhood 
development, promising students who cannot afford higher education 
without student loans, older citizens whose lives depend on heating 
assistance.
  These are spending cuts, Mr. Speaker, but they do not go to balance 
the budget as Republicans claim they want to do with spending cuts. No. 
Instead, they choose to take money from children, from mothers, from 
students and from the elderly and give it to the wealthy 10 percent of 
our population.
  This is a tax bill that robs the poor and working families to pay the 
rich. This is a tax bill that hoodwinks the American people. This is a 
tax bill that is immoral. This is a tax bill that ought to be sent to 
purgatory.


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