[Congressional Record Volume 142, Number 30 (Thursday, March 7, 1996)]
[House]
[Page H1780]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




CUT CORPORATE WELFARE AND MILITARY SPENDING TO BALANCE THE BUDGET, NOT 
                      THE MIDDLE-CLASS SAFETY NET

  (Ms. McKINNEY asked and was given permission to address the House for 
1 minute.)
  Ms. McKINNEY Mr. Speaker, in April of last year, the General 
Accounting office released a report showing that 73 percent of all 
foreign corporations operating in the United States paid no income 
taxes in 1991.
  These multinational corporations had sales of $359 billion in that 
year, yet 73 percent of them paid no taxes. Imagine that.
  Mr. Speaker, it is no wonder we have a $4.9 trillion debt when 
profitable corporations get away with paying no income taxes.
  Yet, my Republican colleagues insist on slashing Medicare, Medicaid, 
Education, and the environment to balance the budget. Now I ask you, is 
that fair?
  The American people work hard and pay their taxes. All they ask for 
in return is a little security in their old age, some fairness in the 
tax code, and a second chance if they fall through the cracks in our 
changing economy.
  Let us cut corporate welfare and military spending to balance the 
budget, not the middle class safety net.

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