[Congressional Record Volume 141, Number 62 (Tuesday, April 4, 1995)]
[House]
[Pages H4163-H4164]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                THE REPUBLICAN TAX CUT IS IRRESPONSIBLE

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Texas [Mr. Gene Green] is recognized for 5 minutes.
  [[Page H4164]] Mr. GENE GREEN of Texas. Mr. Speaker, the best of 
America is to stay and fight and the worst is to cut and run. This 
Republican majority tax cut takes the money and runs. It does not stay 
and fight the deficit, it does not stay and fight for better education, 
stay and fight for summer jobs for teenagers, stay and fight for higher 
educational opportunity or stay and fight for job training for our 
future.
  Tomorrow the Republican majority will bring this massive tax cut to 
the floor. Everyone wants a tax cut and so do I, but it is 
irresponsible with the huge deficit that we have. As a business person, 
I have used capital gains and investment tax credits to help the 
business that I help manage grow, but until we get our own economic 
house in order, cuts are irresponsible.
  The bill makes the top 2.6 percent of families the winners with over 
58 percent of the tax cuts. Corporations would be winners with repeal 
of the alternative minimum tax, which simply required a corporation to 
pay something, even if they made a profit.
  Who are the people and the issues losing under this bill? Well, of 
course deficit reduction, because you cannot have a tax reduction 
without taking $100 billion out of the effort to reduce the deficit.
  Teenage summer jobs. Just two weeks ago we saw the House abolish for 
this year and next year the teenage summer jobs.
  Grade school and college students. We saw $100 million cut out of 
Federal funding for Chapter 1 funding education. College students, the 
reduction in the student loan program, and finally the losers are the 
taxpayers of America.
  The Speaker calls this the crown jewel of the Contract With America. 
Well, this jewel is cracked. Why should hard-working Americans pay 
taxes while profitable corporations may pay nothing?
  Why should seniors go cold in the winter and endure hot summers when 
the top 2 percent of Americans will receive the 58 percent of the 
capital gains cuts?
  The Republican majority wish to point to the lack of responsibility 
in our Federal Government, but is it responsible to have a larger 
Federal budget deficit in 1999 than under current law? No, it is not.
  Mr. Speaker, the first 100 days has been a blitzkrieg of cuts in 
education funding, summer jobs for teenagers, school lunches, denying 
legal and taxpaying immigrants assistance.
  The contract has several issues which I agreed with and supported: 
Putting Congress under the laws that it passes, line item veto and 
unfunded mandates, and all of these issues needed to be addressed.
  But the crown jewel will be paid for by cuts in safe schools and 
financial aid for the college students. Congress must not sell out the 
future for some of the good times for the wealthiest families. The 
American people are tired of paying taxes, and I am willing to work to 
have cuts for Americans, but Congress would be irresponsible to explode 
the budget deficits simply to give tax cuts to a small minority of our 
Nation.
  Mr. Speaker, we all want a tax cut, and their money is best left in 
their pocket, but it is irresponsible to our children and our 
grandchildren not to stay and fight for our future.
  Mr. BAKER of California. Will the gentleman yield?
  Mr. GENE GREEN of Texas. I will be glad to yield, Mr. Speaker.
  Mr. BAKER of California. Did you vote for the $17 billion rescission 
package and would you vote today to cut $213 billion from this budget 
which is this year's deficit?
  Mr. GENE GREEN of Texas. I would be more than happy. Last year I 
voted, in 1993 as we hear, I voted to cut $250 billion out of the 
budget that did not have one Republican vote. I did not vote for the 
rescission because the rescission cut 2,000 jobs in my district of 
summer jobs programs.
  Mr. BAKER of California. The rescission was 8 percent of the deficit.
  Mr. GENE GREEN of Texas. On a short term basis, we are going to say, 
well, let's do not have those 2,000 people in my district or 6,000 in 
the City of Houston who have a summer job, let's put that money into 
abolishing the alternative minimum tax for corporations. Let's get our 
priorities straight.
  Mr. BAKER of California. Mr. Speaker, the point I
   would like to make is you cannot cut your way out of this. You did 
not vote for the $17 billion in cuts and you are not likely to vote to 
$213 billion.

  Mr. GENE GREEN of Texas. I will vote for cuts.
  Mr. BAKER of California. You better pray that the tax reduction 
brings more revenue.
  Mr. GENE GREEN of Texas. Reclaiming my time. I like a lot of 
Democrats will vote for cuts, but let's vote for cuts that do not take 
the cuts today and penalize those in the future. Let's vote like you 
said, let's grow out of this deficit, but you do not grow out of it by 
cutting job training funds, by cutting summer jobs programs. We want 
those youngsters to be productive citizens so they will pay those taxes 
5 and 10 years from now, but if you cut the job training today and you 
cut their summer jobs, then growing out of this deficit is really a pie 
in the sky and a pipe dream, just like the 1981 tax cut was to balance 
the budget.
  Mr. BAKER of California. If the gentleman would further yield.
  Mr. GENE GREEN of Texas. I will further yield.
  Mr. BAKER of California. Let me be honest, I will not vote to cut 
$213 billion because it could not be done without hurting all the 
programs you are talking about. The capital gains tax and the 
alternative minimum tax will bring us more revenue and allow us to 
balance the budget sooner. Thank you for yielding.
  Mr. GENE GREEN of Texas. If I believed that rationale, I would be 
voting for it tomorrow, but obviously I do not.


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