[Congressional Record Volume 156, Number 120 (Tuesday, August 10, 2010)]
[House]
[Page H6582]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               MEETING THE EMERGENCY NEEDS ACROSS AMERICA

  (Mr. DeFAZIO asked and was given permission to address the House for 
1 minute.)
  Mr. DeFAZIO. We have an obligation to the future to stop borrowing 
and spending, and actually, today, we're going to meet emergency needs 
across America and we are going to stop borrowing, but we are going to 
do something the Republicans really hate. We are going to close some 
unbelievable, abusive, foreign tax loopholes. They're called daisy 
chain hopscotch dividends that are deemed in Bermuda and the Cayman 
Islands, among other exotics.
  You know, when we built the greatest country on Earth, corporations 
paid 40 percent of the taxes in this country. Today, Republicans are 
paying 7 and Republicans think that's just too much. Well, we've got a 
choice: cut $10 billion in abusive foreign tax loopholes and fund our 
kids' education so we don't have the shortest school years and the 
largest class sizes in America, or continue business as usual to 
subsidize those corporations and allow them to hide money overseas.
  I know how the Republicans vote. I'm voting with the kids.

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