[Congressional Record Volume 141, Number 63 (Wednesday, April 5, 1995)]
[House]
[Pages H4180-H4181]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              THE TAX BILL AND THE ALTERNATIVE MINIMUM TAX

  (Mr. STUPAK asked and was given permission to address the House for 1 
minute.)
  Mr. STUPAK. Mr. Speaker, lately I have been on the floor talking 
about what I call the Republican version of AFDC, not aid to families 
with dependent children, but aid for dependent corporations.
  This tax bill is another example of AFDC, welfare for corporations. 
The Republican tax bill repeals the corporate alternative minimum tax, 
AMT, a provision of the 1986 Tax Code which ensures that profitable 
corporations pay their fair share of income taxes.
  [[Page H4181]] I have offered an amendment to the Committee on Rules 
to prevent the repeal of this provision, but it was not made in order 
by the Republican leadership.
  Every year thousands of parents make room in their budget to buy 
school supplies for their kids, things like this 99-cent bottle of 
glue. Most of you do not know, but in 1981 virtually every one of those 
parents paid more in taxes than the multimillion-dollar company which 
produced this product. According to Citizens for Tax Justice, in the 
1981 tax year, Borden, the makers of this glue, despite making a profit 
of over $201 million, paid no income tax. In fact, they got back $14.9 
million in tax credits.
  Mr. Speaker, I hope we reject this bill, reject this rule, bring back 
tax fairness.


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