[Congressional Record Volume 142, Number 62 (Tuesday, May 7, 1996)]
[House]
[Page H4442]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 REPUBLICAN LEADERSHIP WANTS TO CUT EDUCATION FUNDS TO GIVE TAX BREAKS

  (Mr. MARKEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. MARKEY. Mr. Speaker, the Republican leadership wants to cut 
education funds for children in this country in order to give a tax 
break which is going to wind up in the pockets of oil companies, by 
every economic analyst's view in this country. Yesterday's Wall Street 
Journal reports that the first quarter profits at the big oil companies 
went up 41 percent in the first 3 months of this year. The five top 
executives at the six top oil companies in the last 2 months enjoyed 32 
million dollars' worth of increases in their stock options; the oil 
company executives, $735 apiece went to each oil company executive. 
Clearly, the oil company executives are not upset about higher prices 
at the pump. They are crying all the way to the bank.
  Who are we going to ask to pay for this? The children of the country, 
in cutting education programs for them. How about looking at the oil 
companies? They are tipping consumers upside down and shaking money out 
of their pockets.

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