[Congressional Record Volume 141, Number 184 (Saturday, November 18, 1995)]
[Senate]
[Pages S17465-S17466]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         ADDITIONAL STATEMENTS

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                BUDGET RECONCILIATION CONFERENCE REPORT

 Mr. LEVIN. Mr. President, yesterday, with the Senate's 
consideration of the Budget Reconciliation bill, the rubber really met 
the road. This is the real thing.
  We have been warning for some time now that this bill would represent 
the extreme priorities set largely by the majority in the other House. 
The budget reconciliation bill which the conference set us--conference 
which effectively excluded Democrats--and which the Senate passed on 
near party lines, included a very large cut in Medicare. The $270 
billion cut is three times what is necessary to stabilize the trust 
fund. These plus a cap on direct student loans, reductions in the 
earned Income tax credit for working Americans, all, in part, are to 
pay for a large tax break, the benefits of which will go mainly to the 
wealthiest among us. There are a number of other shortsighted changes 
in Federal programs including cuts in child nutrition programs.
  Mr. President, for the past week we have seen the Speaker of the 
House and Republican majority irresponsibly shut down large parts of 
the Government and threaten the credit rating of the United States. 
This is a long-planned tactic to force the President to accept their 
extreme budget priorities. Now, those priorities are laid bare in this 
bill for all to see.
  The issue isn't whether one favors a balanced budget. I do. I have 
voted for one on more than one occasion.
  Let us look at balance, as the Republicans have defined it. On the 
one side, 

[[Page S 17466]]
there are $247 billion in tax breaks, which mainly benefit the 
wealthiest of Americans. On the other side, for ordinary, middle-income 
Americans, there will be increases in Medicare premiums, increases in 
college loan costs, and for some working Americans with wages under 
$30,000 per year, a $32 billion tax increase. The tax increase on those 
receiving the earned income tax credit hurts America's most vulnerable 
workers, including more than 4 million workers who make less than 
$10,000. Overall, according to U.S. Treasury data, 12.6 million 
household would have their earned income tax credit reduced under this 
legislation. 7.7 million households would see a net increase in taxes.

  These priorities are wrong. I have supported a balanced budget. I 
have supported a budget balanced in 7 years. But, I cannot accept, and 
I do not believe the President will sign a budget as skewed as the one 
which is before us today. The issue is not whether to balance the 
budget or when to balance the budget. The issue is how to balance the 
budget.
  The Republicans have tried to strong arm the President into accepting 
these priorities. They planned this course months ago. It's bad enough 
that the majority is willing to shut down functions of the Government 
which many people rely upon and that they are willing to risk the 
credit rating of the United States. But, to add insult to injury, we 
have seen from their own statements that this is a long-planned tactic.
  As long ago as April 3, the Washington Times reported that:

       House Speaker Newt Gingrich vowed yesterday to create a 
     titanic legislative standoff with President Clinton by adding 
     vetoed bills to must pass legislation increasing the national 
     debt ceiling.

  And in May, House Budget Committee Chairman John Kasich said,

       We'll probably have a few train wrecks, but that's always 
     helpful in a revolution.

  In September, Speaker Gingrich said,

       I don't care what the price is. I don't care if we have no 
     executive offices and no bonds for 60 days--not this time.

  It is clear again why the majority has been holding the Government 
hostage. They have a set of budget priorities which do not fare well in 
the light of day. They are bad for senior citizens, bad for children, 
bad for working Americans. So, let's get on with it. They can pass it, 
they have the votes. The President will veto it. And then, we can get 
on to the real business of resolving our differences. Negotiations need 
to go forward to reach a bipartisan agreement, so that we can reach a 
genuine balance budget with a time certain and with the right 
priorities. This is how our system works. Let us get reasonable people 
around the table. America is waiting.

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