[Congressional Record Volume 141, Number 171 (Wednesday, November 1, 1995)]
[House]
[Pages H11591-H11592]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    DO NOT SHUT DOWN THE GOVERNMENT

  (Mr. DURBIN asked and was given permission to address the House for 1 


[[Page H 11592]]

minute and to revise and extend his remarks.)
  Mr. DURBIN. Mr. Speaker, I would like to tell those who happen to be 
mortgage holders across America they have a surprise in store. It is 
the Republican Christmas tax.
  Here is what it is all about: In order to force the President's hand 
on this budget negotiation, Speaker Gingrich has suggested he would 
close down the Government.
  Major economists know if that occurs interest rates go up. People who 
have adjusted rate mortgages, where the interest rates vary as those 
interest rates go up, will have to pay more on their monthly mortgage 
payment.
  So Merry Christmas, America. What Speaker Gingrich would like to do 
is close down the Government, raise the interest rates, force higher 
payments on people's home mortgages.
  We just read in the paper this morning working families are finding 
it tougher than ever to get by. They do not need to receive this sort 
of Christmas gift from Speaker Gingrich, this kind of hidden tax, that 
imposes a greater burden on families in America. It is unfair.
  What we need is a bipartisan, commonsense approach that does not cut 
Medicare, that does not provide a tax break for the wealthiest of 
Americans. That is what people sent us to Washington to do.

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