[Congressional Record Volume 149, Number 71 (Tuesday, May 13, 2003)]
[Extensions of Remarks]
[Page E940]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             JOBS AND GROWTH RECONCILIATION TAX ACT OF 2003

                                 ______
                                 

                               speech of

                          HON. JOHN F. TIERNEY

                            of massachusetts

                    in the house of representatives

                          Friday, May 9, 2003

  Mr. TIERNEY. Mr. Speaker, for the past 2\1/2\ years the Bush 
administration, with help from a Republican majority in Congress, has 
pursued a policy of shifting this country's tax burden from corporate 
giants and their super-wealthy friends onto average Americans. Each tax 
cut proposed had a minimum of relief for families that masked huge 
breaks for the favored few.
  The results of earlier such cuts are in: 2,200,000 jobs lost and a 
downward spiraling economy. This administration has had the worst 
private-sector job growth performance of the 14 administrations since 
World War II. Besides the current occupant, no White House except that 
of the second Eisenhower term lost jobs.
  Now as concern for the economy rises, the President has again 
proposed huge cuts for a narrow few, with small cuts for families 
sprinkled in for ``cover.'' Given the past failure of this approach, 
and the seemingly endless bleeding of jobs from our economy, the Bush 
tax cut plan has been re-titled the ``Jobs and Economic Growth'' Plan. 
Let's pray it doesn't repeat the damage done by the last initiative.
  By mentioning the word jobs with every breath and having the media 
breathlessly repeat such pronouncements, the President believes people 
will think the problem is being addressed. He claims his plan will 
create 1.4 million jobs. Unfortunately for him, and us, Alan Greenspan 
of the Fed disagrees, as does the former Presidential Economic Advisory 
Council member and now Director of the Congressional Budget Office. 
Neither would or could tout this de ja vu, his father called it voo 
doo, economic policy.
  There is a better way to respond to the obvious needs of America's 
families; a previously tried and successful path that would address the 
painful situations too many are now experiencing. The President and 
Congress can provide help, and do so without raising taxes.
  We must, however, forego those tax cuts that the President is trying 
to direct almost exclusively to the already extremely well-off, i.e., 
the reduction of taxes on Corporate dividends. It's not too much to 
ask. At every other juncture when this nation has met simultaneous 
foreign and domestic challenges, we have asked for, and received, 
shared sacrifices. This circumstance calls for the same response.
  With common sense, fairness and decency as our guide, we can 
implement a plan far less costly than the President's that actually 
will create over a million jobs this year alone, and grow the economy. 
Taking this course will not saddle our children with hundreds of 
billion or trillions of dollars in debt, as would the President's plan.
  We should forego the President's special tax favors, and instead:
  Provide a decent extension of unemployment insurance benefits for 
those still out of work and those expected to lose their jobs in the 
coming months.
  Provide states with funds to avoid their cuts in local aid that are 
resulting in teacher, fire and police lay offs and losses of other 
critical services. Also, by providing assistance with a larger federal 
share of Medicaid to stop plans to end coverage for thousands.
  Fulfill the federal government's promises to states and local 
governments to fund homeland security, road and bridge repair and 
construction, disability education and `No Child Left Behind' mandates, 
and with one-time assistance to help those hurt most by unemployment 
and a stagnant economy.
  Focus any tax relief on families that work-not just those benefiting 
from ``coupon clipping'' and toward small business incentives for new 
investments and jobs actually created in 2003.
  Finally, as the World Trade Organization forces the United States to 
end its tax subsidies to Corporations that manufacture overseas, we 
should defeat the Republican effort to repackage that same idea and 
stop policies that move jobs off-shore.
  Stopping the economic slide and easing workers' and small business' 
pain in this economy is entirely possible if we do the sensible, fair 
things.
  It is ironic that those looking to give money primarily to the very 
well-off expect to spend billions building Iraqi schools and roads, 
providing health care for Iraqi citizens, and rebuilding that country, 
but somehow lack the will and common sense to build America and help 
its struggling families. We are morally obligated to assist in Iraq, 
where so much devastation was caused. Still, I believe we are morally 
bound--and guided by fair play and common sense--to do the right thing 
for our citizens and economy as well.
  It is my hope that the Senate will refocus attention on the needs of 
the American people and craft a Jobs and Growth Act worthy of its name.

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