[Congressional Record Volume 154, Number 99 (Monday, June 16, 2008)]
[Senate]
[Pages S5639-S5640]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         THE MIDDLE CLASS DREAM

  Mr. REID. Mr. President, this Saturday, Jeff Alberici from Auburn, 
NY, delivered the Democratic weekly radio address. Jeff and his wife 
aren't rich; they aren't poor. They are squarely in the middle. They 
are middle class.
  Jeff is a middle school teacher. He teaches American history. His 
wife is a teacher's assistant. Jeff said that if they didn't have to 
transport their three children to school and sports practice, they 
would probably ride bikes back and forth to work to save gas.
  Jeff said when his wife returned to work last year, after staying 
home with their children, they thought the second income would give 
them a chance to pay off their debt and start saving for college. But 
that hasn't happened. Instead of getting ahead, the Alberici family's 
second income is covering the cost of food, and especially gasoline.
  Jeff summed up things by saying that they will be fine. They are not 
in danger of losing their home, and they both have good steady jobs. 
They are not at risk. But instead of ordering pizza for an occasional 
dinner with the kids, now they have to eat grilled cheese on those 
occasions. And in the long term, they are not sure how they will be 
able to afford to send their children to college because they have 
basically not saved anything up to this date.

[[Page S5640]]

  Families in every State, region, and corner of our country are facing 
the same challenges as the Albericis. Jeff and others like him were 
raised to believe that doing important work, such as being a 
schoolteacher, wouldn't make you rich but it would provide enough to 
live comfortably and raise a family. The middle-class dream--that 
American dream--is vanishing before our eyes.
  Today, oil is trading near record levels again. It is up around $140 
a barrel. Gasoline now averages $4.08 a gallon nationally, and in 
Nevada it is $4.24 a gallon. This morning, we learned that utility 
companies across the country are raising rates another 29 percent on 
top of the 30-percent increases American consumers have already endured 
over the past 5 years.
  On President Bush's watch, American families are earning less today 
than they did 8 years ago--and that is the truth--yet paying more than 
ever for everyday necessities, such as gasoline, heat for the home, and 
of course groceries. And they are paying more than ever for long-term 
needs, such as the goal of health care, college, and retirement. 
American families can't survive this squeeze indefinitely.
  Right now, many are able to keep their heads above water by saving 
less, and sometimes not saving, and finding other ways to tighten their 
belts. Like the Albericis, they are eating more grilled cheese and 
putting less of their paychecks into savings.
  Most Americans are too busy figuring out how to pay the bills and 
make ends meet to pay close attention to what is going on here in 
Congress. But if working families see one thing from Congress, it is 
this: Democrats get it. That is what Jeff said in his radio address. We 
know what is happening in America, and we are fighting every single day 
to make things better.
  Republicans? They talk about our country's problems, but when the 
time comes to stand up and take action, they are nowhere to be found. 
Republicans talk about high gas prices, alternative energy, the housing 
crisis, and job loss, but each time there has been a proposed solution 
to those challenges, Republicans have said no.
  Our Republican colleagues fill endless pages of the Congressional 
Record with speeches about the affordability crisis in America that a 
Republican President created and the Republican nominee, John McCain, 
hopes to continue, but the American people need more than empty words.
  Republicans can choose to keep standing on the sidelines, or keep 
sticking with the status quo, which they have done now for the entire 
year and a half we have been in the majority. They have that right. But 
Democrats will keep fighting to make the American dream affordable 
again for the Albericis of Auburn, NY, and the millions of American 
families like them who deserve better. Today we will give Republicans 
another opportunity to do the right thing by voting for cloture on the 
energy tax extenders bill. This legislation would lower taxes for 
businesses, entrepreneurs, and families. The deduction for State and 
local sales taxes helps level the playing field and provides tax relief 
to residents in States with no income tax. The tuition deduction helps 
families afford the skyrocketing cost of college. The teachers' 
deduction provides a small but important bit of help and appreciation 
to educators for out-of-pocket classroom expenses.
  This legislation would also extend tax benefits for businesses, 
particularly those engaged in research and development for clean 
renewable energy, tax credits, Mr. President, for clean renewable 
energy. Today we are going to use 21 million barrels of oil. That is 
not necessary. We could change that. We need to allow the great 
business minds of America to invest in renewable energy--the Sun, the 
wind, geothermal. That is what this vote at 5:30 today is all about.

  Republicans have opposed this legislation in the past because it is 
paid for and will not increase the national debt. How do we pay for 
these tax cuts for businesses and families? By closing a loophole that 
allows superwealthy hedge fund managers to avoid paying tax on their 
earnings.
  This is unique, that the Republicans would oppose this. The hedge 
fund operators even know it is unfair and they support us on this. Why 
anyone opposes legislation on these grounds is beyond the ability of 
the American people to comprehend. Why Republicans would oppose tax 
relief for businesses and families in order to protect a tax loophole 
for multimillionaires seems preposterous. And keep in mind, even the 
hedge fund operators, I repeat, believe it would be fair to do what we 
seek.
  Republicans have the right to side with hedge fund multimillionaires 
over small businesses and families. They have already done so by 
blocking the tax extenders bill twice this year. Now they have a third 
chance to reverse course and support this legislation. Maybe this week 
enough Republicans will see the suffering in their States and break 
with the President and Republican Senate leaders to do the right thing. 
Maybe this is the time enough Republicans will say enough is enough.
  I know our Republican colleagues see the terrible economic burden the 
American people are carrying. The only question is, will they let it 
continue or join us in doing something about it? For all the 
Republicans sitting on the fence, and there are some seeing how bad 
things have gotten but still not ready to stand up to the Republican 
Party, I ask: If not now, when? Democrats stand ready to legislate. 
Join us and we can begin repairing the damage and restoring the 
American Dream.
  I acknowledge that on the Medicare fix we tried to do last week, we 
got nine Republicans who supported us. Had we had Senator Kennedy 
back--and he soon will be back, and a few other Senators--we would have 
been able to have 60 votes. So I am glad to see that my friends on the 
other side, even though not enough, are coming forward and voting with 
us. We hope there will be more of that in the future.

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