[Congressional Record Volume 151, Number 163 (Saturday, December 17, 2005)]
[Extensions of Remarks]
[Pages E2562-E2563]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    PROVIDING FOR CONSIDERATION OF H.R. 4297, TAX RELIEF EXTENSION 
                       RECONCILIATION ACT OF 2005

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                               speech of

                          HON. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                       Thursday, December 8, 2005

  Ms. McCOLLUM of Minnesota. Mr. Speaker, I rise in strong opposition 
to the irresponsible Republican tax giveaways proposed in

[[Page E2563]]

H.R. 4297. The Republican bill provides tax cuts for the wealthy few in 
our society by slashing critical services for vulnerable Americans and 
adding to our already exploding deficit.
  I am appalled that the majority party has slashed food stamps, health 
care and student loans for vulnerable and middle-income families to pay 
for tax breaks for the Nation's most fortunate. The top priority--63 
percent of the spending--in the Republican tax reconciliation bill is 
to extend capital gains and dividend tax cuts from 2008 to 2010.
  Forty-five percent of the benefits of this provision will go to 
millionaires. In addition, this bill, even combined with the 
devastating cuts, will add $81 billion to the deficit over the next 10 
years.
  The Republican bill focuses on benefits for their wealthiest 
contributors and fails to address tax changes that are necessary for 
the middle class. This bill does not include a provision to protect 
families from tax increases from the alternative minimum tax. I 
supported the 1-year fix on the AMT that this House passed because this 
is a critical issue for families in my district. However, this 
provision should have been included in this reconciliation package and 
should have been a priority for this Congress.
  In total, the Republican reconciliation package includes tax 
increases of up to $3,640 for middle income families due to the 
alternative minimum tax, increases of $5,800 per student for their 
college education, and a loss of access to health care and nutrition 
for many struggling families. It also adds to a spiraling deficit 
already projected to reach $640 billion by 2015. At the same time, 
Republicans will provide an average tax break of $32,000 to the wealthy 
few. This is an outrage and should be an embarrassment for this 
Congress.
  Mr. Speaker, America can do better. Congress should put forward a 
budget that is fiscally responsible, prioritizes our families, and does 
not threaten our children and grandchildren's future by increasing the 
Federal deficit.
  I urge my colleagues to reject this irresponsible, immoral budget 
plan.

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