[Congressional Record Volume 147, Number 144 (Thursday, October 25, 2001)]
[House]
[Page H7311]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       AMERICAN ECONOMY LAGS BECAUSE CONGRESS DID NOT DO ITS JOB

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. Mr. Speaker, yesterday the House passed a bill that is 
labeled an economic stimulus package; but the fact of the matter is 
with $8 trillion taken out of the economy through declines in the stock 
market, and the decline in buying power anywhere from three to $400 
billion, the amount passed in no way will stimulate the economy.
  Despite the fact that the Fed will soon meet for the tenth interest 
rate cut, we are going to continue to see the American economy lag 
because Congress yesterday did not do its job. Instead, what Congress 
did was to give permanent tax cuts to those least likely to spend it: 
large corporations and those who are at the highest income.
  Congress gave a retroactive tax cut, immediate rebates to large 
corporations, and nothing was in that bill for people who really need 
help, people who are expected to be unemployed, those employees who are 
at places like Kodak and others where thousands are being laid off.
  Mr. Speaker, we are going to have to readdress and come back and look 
at this issue of economic stimulus to take care of those who are truly 
needy in this country and resist the urge to feed the greedy.

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