[Congressional Record Volume 141, Number 101 (Tuesday, June 20, 1995)]
[House]
[Pages H6095-H6096]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                          CUT CORPORATE WASTE

  (Mr. STUPAK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. STUPAK. Mr. Speaker, corporate welfare is defined as payment of 
Federal assistance in the form of subsidies, tax credits, and payments 
to business.
  Such corporate welfare has grown to be so widespread that nearly 
every member of the Fortune 500 receives some sort of subsidy. Besides 
the enormous burden corporate waste places on the Federal budget, 
subsidies serve to weaken businesses; incentive to be competitive, 
efficient, and productive.
  Reducing corporate subsidies is an important step in controlling 
spending. By sharply reducing these programs, we could eliminate 
unproductive programs while freeing much-needed funds for deficit 
reduction. In fact, cutbacks in corporate waste would have far more 
impact in reducing the deficit than many of the current efforts by 
Republicans to cut discretionary spending.
  The Republicans have proposed to cut billions from programs that 
assist families, children, seniors, farmers, and veterans. Yet, while 
Republicans [[Page H 6096]] seek to gut programs that allow American 
families to make ends meet, over $160 billion a year in corporate 
welfare is buried in our Tax Code in the form of giveaways and 
loopholes.
  It is indefensible to ask Americans to sacrifice without asking big 
business to do its fair share. I challenge the majority to cut aid to 
dependent corporations.

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