[Congressional Record Volume 147, Number 73 (Thursday, May 24, 2001)]
[Extensions of Remarks]
[Page E922]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     TAX RECONCILIATION CONFERENCE

                                 ______
                                 

                         HON. GREGORY W. MEEKS

                              of new york

                    in the house of representatives

                         Thursday, May 24, 2001

  Mr. MEEKS of New York. Mr. Speaker, I rise today to express my deep 
and alarming concerns about the pending Tax Reconciliation Conference 
Report.
  While the Senate, that now distinguished body across the divide, has 
managed to scale back the size of the tax cut, Mr. Speaker it is still 
too large. We cannot afford this tax cut!! If we are to meet our 
obligations to the nation's youth, elderly and impoverished, we must 
act responsibly.
  However you slice it, Mr. Speaker, this is tax cut for the rich. This 
is a bank account builder for those in our country who least need the 
boost.
  We are basing this tax cut on projected revenues which, even by the 
most liberal of estimates, may not materialize.
  Mr. Speaker, the most irresponsible part of this tax cut is that it 
relies on, and threatens the Medicare and Social Security Trust Funds. 
It is an irresponsible tax cut because it totally ignores hundreds of 
billions of dollars in interests costs. It seeks to line the pockets of 
the rich while fleecing the poor on energy, education and housing.
  Mr. Speaker, I urge my colleagues to continue to expose this tax cut 
for what it really is, an irresponsible, poorly calculated and skewed 
to the wealthy budget buster.

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