[Congressional Record Volume 141, Number 166 (Wednesday, October 25, 1995)]
[Senate]
[Pages S15614-S15615]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  ONE FINAL ACT OF COURAGE AND VISION

  Mr. COATS. Mr. President, just 8 short months ago, when Democrats 
defeated the balanced budget amendment, the minority leader challenged 
us by saying: ``The budget is not going to be balanced in 2002 unless 
the responsible people in 1995 start to focus on their share of the 
work.''
  Well, Mr. President, I submit that responsible people in Congress 
have focused on their work, and now it is up to the minority to show 
whether their statements supporting a balanced budget were a conviction 
or an alibi.
  The reconciliation bill we are debating not only makes sense, it 
makes history. For most of us, a balanced Federal budget is a distant 
memory. For decades, it has been an empty political promise, but now it 
is just one final vote away. All that remains is one final act of 
courage and vision.
  That courage will be tested in the Congress by some difficult choices 
that we will have to make here in the next 3 days. That vision will be 
measured in the President, as he becomes either a partner in the 
process or a partisan opponent. If either he or we are unequal to this 
task, the patience of the public will be exhausted. We will have 
squandered a unique opportunity, and we will feed a dangerous 
disillusionment with American politics.
  I am confident that this chance will not be missed; that this new 
Congress will show a new determination. But this bill involves more 
than fiscal restraint. It represents a radical shift of resources away 
from Government, directly to families. It contains the single-most 
practical, compassionate way to provide immediate help and support to 
children. That is a fact that Americans must understand and that 
opponents cannot be allowed to ignore, because this budget matches its 
commitment to cuts with commitments to families. It reduces both the 
reach of Government and the level of taxes, and it embodies important 
values that cannot be represented in a balance sheet.
  Let me take three provisions of this budget as examples--priorities 
that I have championed for years. These are measures that would 
directly improve the lives of families and children in my State and 
people around the country. We have proposed them again and again, only 
to see them ignored or defeated. Now they are one step short from 
reality.
  First, this budget includes a $500 child tax credit. This sounds 
somewhat abstract, so let me be specific. The reconciliation package 
would provide nearly $600 million of tax relief to Indiana families. 
Over 1 million Indiana children would be eligible for the credit, and 
nearly 100,000 Hoosier taxpayers would have their entire tax liability 
eliminated by this single measure alone.
  Democrats in this debate have tried to draw attention to children, 
and that is precisely where our attention should be. But children are 
not raised by bureaucrats, they are raised by parents. If the choice is 
between $600 million spent by Government in Indiana and $600 million 
spent by parents, there is no choice. Parents are more compassionate 
and more capable than any Government program can ever be.
  In reality, nearly 90 percent of the child tax credit will go to 
families making less than $75,000 a year. Over 50 million American 
children will be eligible. Cutting Government and cutting taxes are 
part of the same movement in America, the movement to limit our 
Government and empower our people. One idea implies and requires the 
other. When we reduce public spending, we should increase the resources 
to families to meet their own needs. The theory is simple: A dollar 
spent by families is more useful than a dollar spent by Government.
  Second, this package also includes an adoption credit of $5,000. 
Along with the child tax credit, these two provisions represent about 
60 percent of the entire tax package. There is no more compassionate 
act than to provide an abandoned or abused child with a loving family, 
and the number of children who need those families is rising sharply. 
Yet, at the same time, the number of adoptions has dropped by nearly 50 
percent over the last 25 years and, on any given day, 37,000 children 
are waiting to be adopted.
  Thousands of families would be eager to adopt if it were not for the 
prohibitive cost, now about $14,000 on average. A $5,000 credit would 
make this a reasonable option for more parents.
  The PRESIDING OFFICER. The time of the Senator from Indiana has 
expired.
  Mr. WELLSTONE addressed the Chair.
  Mr. COATS. Mr. President, I ask unanimous consent for 2 additional 
minutes. Is that permitted?
  Mr. WELLSTONE. Reserving the right to object, I wonder whether 
morning business can be extended, in which case it will not be a 
problem. If we extend 2 minutes on both sides, that will be fine.
  The PRESIDING OFFICER. With unanimous consent, morning business would 
be extended.
  Mr. GRASSLEY. Reserving the right to object, I think probably we 
ought to give 2 minutes here and 2 minutes over there to be fair, which 
is the way we have done it in the past. In addition, I want to be 
careful we do not extend the time because we have been clearing that 
with the managers of the bill. I do not think I can just willy-nilly 
allow the expansion of time. I think 2 minutes is appropriate.
  Mr. WELLSTONE. My understanding is 2 minutes will be extended to the 
Senator from Indiana and I will have 2 minutes on top of what I already 
have.
  The PRESIDING OFFICER. The time on the minority side is 4 minutes and 
6 seconds. That would extend the time to 6 minutes and 6 seconds. The 
majority side would have 2 minutes.
  Is there objection? Without objection, it is so ordered.
  Mr. COATS. Mr. President, thousands of families would be eager to 
adopt were it not for the prohibitive cost, now about $14,000 on 
average. A $5,000 credit would make this a reasonable option for more 
parents.
  Encouraging adoption is one of the most effective ways to care for 
children in need and at risk. Abused and abandoned children require 
loving homes more than they require any amount of bureaucratic spending 
in the status quo bill presented by the Democrats.

[[Page S15615]]

  Third, this reconciliation bill includes medical savings accounts, an 
idea that I was the first to introduce in the Senate. These accounts 
will give families independence and choice on health care, the opposite 
of the President's approach. It delivers security without bureaucracy, 
providing families the resources to care for their own needs.
  The centerpiece of this reconciliation bill is a balanced budget. In 
the future, this will be recalled as our contribution to history. If we 
ignore our budget crisis, the child born this year will pay $187,000 
over his lifetime just for interest on the national debt.
  The argument for a balanced budget comes down to something simple: It 
is one of our highest moral traditions for parents to sacrifice for the 
sake of their children. It is the depth of selfishness to call on 
children to sacrifice for the sake of their parents.
  If we continue on our current path, we will violate a trust between 
generations and earn the contempt of the future.
  There is no doubt we must balance the budget, but in passing this 
bill, we will accomplish even more, because this bill displays a 
passion for limited Government, yet it also displays compassion for 
American families. It finally returns responsibility to the Federal 
budget, yet it also helps return abused and abandoned children to 
adoptive families.
  It will improve the long-term health of our economy, and yet it will 
also deliver short-term help to families and to children, relief that 
will be felt next year and every year beyond.
  These are not sideshows or distractions. This plan includes real 
relief that will be felt and appreciated by the American people, and 
that relief is specifically directed toward families with children. 
This is actual, meaningful compassion, not the synthetic, failed 
compassion of Government programs.
  Mr. President, we have come to the beginning of the end of deficit 
spending in America. We have come to this place because there is no 
alternative. The work before us is difficult. But it is nothing more 
than most Americans expect.
  We have come to a time that is unique--an authentic moment of 
decision. It is a moment to act worthy of our words, and to keep faith 
with the future.
  Mr. WELLSTONE addressed the Chair.
  The PRESIDING OFFICER (Mr. Faircloth). The Senator from Minnesota.

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