[Congressional Record Volume 148, Number 8 (Wednesday, February 6, 2002)]
[Senate]
[Page S398]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           ECONOMIC STIMULUS

  Mr. ENZI. Mr. President, I thank you for the opportunity to comment 
on the Senate's inability to pass an economic stimulus package. I, like 
most of my colleagues, wanted to pass an economic stimulus package. We 
wanted to pass such a package not only at the end of last year, but at 
the beginning of this year in order to jump start our economy.
  Finally, the majority leader allowed us an opportunity to look at an 
economic stimulus bill. But it wasn't a bill that came out of the 
Senate Finance Committee nor was it the bipartisan/centrist proposal 
offered by my colleagues and which the President said he would support. 
Instead, it was a one-man show, put on the floor with no input from 
other Senators.
  As I said on the floor almost 2 weeks ago, the Daschle substitute 
amendment is much like a patient needing emergency treatment. Our only 
choice was to patch it up.
  So, for the last several days, we were performing emergency surgery--
one ``amendment bandage'' at a time. Some of my colleagues have since 
described the stimulus package or the economy as a patient on life 
support.
  While I am not a surgeon, I do take great pride in being the only 
accountant in the Senate. As a result, I think I have a good 
understanding of what is needed to help the economy. So, I had a few 
amendments to offer to fix up the substitute amendment offered by the 
majority leader, and to really help stimulate the economy.
  One of those amendments would have repealed the special occupational 
tax on alcohol. This is an unfair tax imposed on all businesses that 
manufacture, distribute or sell alcohol products. It is one of the most 
egregious taxes to affect small businesses. My amendment would have 
taken a regulation and tax off the books which the General Accounting 
Office has concluded cost too much to administer compared to the 
revenues it generates. That is a bad tax.
  And it is unfair, too. The same tax is paid by little businesses as 
large ones. Let me explain. Right now, four small family-owned bait 
shops which sell beer pay as much in taxes as the nation's largest 
single site brewery--a whopping $1,000.
  Repeal of this tax would have helped stimulate the economy. Last 
year, rebate checks put $300 in American citizens' back pockets, and 
most people went out and spent it-on much needed back-to-school clothes 
and supplies; toward that new computer; and to buy groceries.
  My amendment would have put $250 to $500 back in the hands of small 
``Mom and Pop'' businesses around the country. In turn, those small 
businesses owners would have used that extra money to make more needed 
purchases or pay expenses.
  I also had a couple other amendments to offer. One would have put 
more money into the hands of charities, who in turn could buy needed 
supplies, including food, clothing, shelter, blankets, medicine, and 
hygiene and other products. When charities buy these things they are 
not only helping those in need, they are helping businesses and workers 
who manufacture or sell those products or services. In a small, but 
important way, this would also stimulate the economy.
  How would my amendment have done this? It would have allowed those 
contributing their IRA's to charities to not have to pay a tax on the 
distribution to the charity. In other words, the government won't be 
skimming money off the donation. As a result, charities would have had 
more money, and the donors would have had the pleasure of giving more 
and the feeling of helping their communities and our nation.
  My colleagues on both sides of the aisle had good amendments to offer 
too. The senior Senator from Montana and I had a drought relief 
amendment we could have used to help ranchers and farmers. I proudly 
endorsed our bipartisan amendment. Wyoming really needs the drought 
relief contained in that piece of legislation.
  The senior Senator from Texas had amendments to speed up the tax rate 
reductions and tax cuts implemented last year. Senator Bond had an 
amendment that passed the Senate 92 to 0 to allow an increase in small 
businesses expensing. This would have given vital assistance to small 
businesses across this country affected by the recession we are in. The 
Senator from Idaho had an amendment to make the death tax repeal 
permanent.
  Well, we do have a death right now to contend with, and it's a 
casualty that even Senator Kyl's death tax amendment can't help. As my 
colleague from Georgia explained, we are now having to pull the plug on 
an economic stimulus bill and will be attending a funeral on its 
demise. Why? Because this country could have largely benefitted from a 
reasonable economic stimulus package, which now will not be passed.
  Like my distinguished colleague Senator Miller said, we are all here 
giving our eulogies. Those eulogies extend to those many amendments 
truly meant to stimulate the economy. It is extremely disappointing we 
will not be able to help the unemployed, or our American workers and 
small businesses.
  Mr. President, I yield the floor.

                          ____________________