[Congressional Record Volume 157, Number 157 (Wednesday, October 19, 2011)]
[Senate]
[Pages S6766-S6768]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS
By Mr. CORNYN (for himself, Mr. Crapo, Mr. Rubio, Mrs. Hutchison,
and Mr. Burr):
S. 1738. A bill to rescind the 3.8 percent tax on the investment
income of the American people and to promote job creation and small
businesses; to the Committee on Finance.
Mr. CORNYN. Mr. President, today I am introducing the Economic Growth
and Jobs Protection Act of 2011. This legislation would repeal the 3.8
percent surtax on investment income that was included in the Health
Care Reconciliation Act of 2010 (P.L. 111-152, signed into law by the
President last year. I am pleased that Senators Crapo, Rubio,
Hutchison, and Burr are cosponsors of this legislation.
We know that taxpayers will likely face the largest tax increase in
history when the 2001 and 2003 tax relief acts expire at the end of
2013. If Congress does nothing, the highest tax rate for individuals
will rise from 35 percent to just under 40 percent; taxpayers in the
lowest bracket will see a 50 percent tax increase, from 10 percent to
15 percent; the marriage penalty will increase; the child credit will
be cut in half; and taxes on capital gains and dividends will increase.
In other words, every taxpayer will pay higher taxes to Washington.
But while taxpayers may be aware of these expiring provisions, many
are likely not fully aware of another unpleasant surprise that will
arrive on the first day of 2013. The Health Care Reconciliation Act
that was jammed through the Senate along partisan lines includes a 3.8
percent surtax on the dividends, rents, and interest earned by certain
taxpayers. Enacting this permanent tax hike was a mistake then and is a
mistake now.
The Institute for Research on the Economics of Taxation--a nonprofit
economic policy research and educational organization recently told the
Senate Finance Committee that the 3.8 percent surtax would reduce
capital formation, which would lower productivity and wages and that a
3.8 percent surtax would lower GDP by about 0.9 percent and would
actually result in lower revenue coming into the government's coffers.
Simply put, increasing taxes on investment income is a job killer and
increases uncertainty at a time that the national unemployment is more
than 9 percent. In fact, the top tax rate on capital gains will
eventually be 23.8 percent as the rate bounces back to 20 percent from
15 percent in 2013. And dividends taxes would more than double to more
than 43 percent.
We should not pile more taxes on the backs of working families and
job creators. This will not help create jobs and will not make the tax
code more pro-growth. We know the key to job creation is to grow the
economy and allow small businesses to flourish, invest and create jobs.
In fact, according to the Federal Reserve Bank of Boston, we will
need several years of very strong growth to reach 5 percent
unemployment. For example, to reach 5 percent unemployment by 2015 the
economy will need to grow 4.2 percent a year. This is just one reason
that during the health care debate I offered a motion that would have
directed the Senate Finance Committee to report the bill back without
the 3.8 percent tax on the investment income. Although my attempt to
strip out this job-killing tax fell short, I want to take this
opportunity to note that six of my colleagues on the other side of the
aisle supported my motion.
Not only will the Economic Growth and Jobs Protection Act of 2011
protect jobs and the investment security of taxpayers, it will also
make sure that Congress restores one of the President's campaign
promises. On September 12, 2008, then-candidate Obama promised the
American people that, ``Everyone in America--everyone--will pay lower
taxes than they would under the rates Bill Clinton had in the 1990s.''
But when combined with the President's budget proposal, this additional
tax on investment will raise taxes on many Americans higher than they
were under the rates President Clinton had in the 1990s.
I ask that my colleagues support this legislation that will repeal
this job-killing tax on small business investment and will protect
economic growth, jobs and the retirement savings of taxpayers. Mr.
President, I ask unanimous consent that the text of the bill and a
letter of support be printed in the Record.
There being no objection, the material was ordered to be printed in
the Record, as follows:
S. 1738
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Economic Growth and Jobs
Protection Act of 2011''.
SEC. 2. REPEAL OF UNEARNED INCOME MEDICARE CONTRIBUTION.
Subsection (a) of section 1402 of the Health Care and
Education Reconciliation Act of 2010 (Public Law 111-152) and
the amendments made by such subsection are repealed.
____
National Association
of Manufacturers,
October 18, 2011.
Hon. John Cornyn,
U.S. Senate, Hart Senate Office Building, Washington, DC.
Dear Senator Cornyn: On behalf of the National Association
of Manufacturers (NAM)--the nation's largest industrial trade
association--thank you for your leadership in introducing
``The Economic Growth and Jobs Protection Act of 2011,'' to
repeal the 3.8 percent surtax on ``investment income''
currently scheduled to go into effect beginning in 2013. The
NAM strongly supports the passage of this legislation.
As you know, the Health Care and Education Reconciliation
Act of 2010 (P.L. 111-152) imposes a new 3.8 percent surtax
on the dividends, rents and interest income earned by certain
taxpayers. This new surtax, if implemented, will discourage
savings and investment. If not repealed, this surtax will
come on top of increases on dividend taxes that are scheduled
to accelerate from today's current rate of 15 percent to a
top rate of 39.6 percent at the beginning of 2013. Combined
with this surtax, dividends taxes could more than double to a
total of 43.9 percent.
Manufacturers strongly support the repeal of this
burdensome tax that would increase the tax on savings and
investment and reduce the amount of capital business owners
have available to invest in their companies. Such a tax will
ultimately result in the loss of vital funds needed for
business operations and job creation.
Thank you for introducing this legislation. At this time
while our nation is working to emerge from recent economic
challenges,
[[Page S6767]]
further increasing taxes on investment income is the wrong
approach and simply adds to a tax system that is already
anti-growth. We look forward to working with you and your
staff to advance this important legislation.
Sincerely,
Dorothy Coleman, Vice President,
Tax, Technology & Domestic Policy.
______
By Mr. FRANKEN (for himself and Ms. Klobuchar):
S. 1739. A bill to provide for the use and distribution of judgment
funds awarded to the Minnesota Chippewa Tribe by the United States
Court of Federal Claims in Docket Numbers 19 and 188, and for other
purposes; to the Committee on Indian Affairs.
Mr. FRANKEN. Mr. President, today I am introducing the Minnesota
Chippewa Tribe Judgment Fund Distribution Act with my friend and
colleague from Minnesota, Senator Klobuchar. This legislation will
finally allow for the distribution of funds owed to the Minnesota
Chippewa Tribe. Before I talk about our legislation, I want to first
thank my colleague in the House, Representative Peterson of Minnesota,
for his leadership on this issue and for the tremendous work he put
into crafting this bill.
It has been a long road to get to this point. The Minnesota Chippewa
Tribe first filed complaints before the Indian Claims Commission in
1948. It took all the way until 1999 before their claims were settled.
For over 60 years, members of the Minnesota Chippewa Tribe have been
waiting for these funds. It's time to get this done.
In 1999, the United States Court of Federal Claims awarded $20
million to the Minnesota Chippewa Tribe. This money is to compensate
tribal members for the improper taking and sale of land and timber
under the Nelson Act of 1889. The Federal Government owes the Minnesota
Chippewa Tribe this money. In fact, in 1999, the $20 million owed to
the tribe was transferred to the Department of the Interior and
deposited in a trust fund account, where it has been collecting one
percent interest. But tribal members in my home State of Minnesota have
never received a dime. That is because, before any money can go to the
tribe, Congress must pass legislation detailing how to allocate the
funds between the 6 bands that make up the Minnesota Chippewa Tribe.
Today, Senator Klobuchar and I are introducing legislation to do just
that. Our bill will provide $300 to every tribal member. While this
might not seem like a lot of money, I want to remind my colleagues that
Native Americans represent one of the poorest segments of Minnesota's
population. On the White Earth reservation, where one in five members
live under the poverty line, a check for $1,200 for a family of four
would make a real difference. This is money that the 40,000 enrolled
members of the Minnesota Chippewa Tribe could be using right now to put
tires on their car or fix a leaking roof or buy new shoes for their
children.
Our bill allocates the remaining funds equally to each of the six
bands that make up the Minnesota Chippewa Tribe. That is approximately
$15 million or $2.5 million per band. This funding is desperately
needed. It will allow the bands to provide for the basic needs for
their people by investing in economic development, health care,
housing, and education.
There is one band, the Leech Lake Band of Ojibwe, that does not agree
with this distribution plan. I am sympathetic to their concerns, and I
sincerely hoped that a consensus agreement could have been reached that
would have satisfied all those involved. But, in the end, I believe we
must respect the decision of the tribe.
The bill we are introducing today reflects the distribution agreed
upon by the Minnesota Chippewa Tribal Executive Committee. This is a
democratic body comprised of two elected officials from each of the six
bands. Under the tribal constitution, the Executive Committee is the
governing body of the tribe. After years of disagreement, the Tribal
Excusive Committee has agreed on an allocation formula. I deeply
respect tribal sovereignty and therefore believe we must respect their
decision.
I also worry that any further delay will only cause hardship for
individual tribal members. The thousands of tribal members across
Minnesota cannot afford to wait another decade. It is time for Congress
to act to allow for the distribution of the funds owed to the Minnesota
Chippewa Tribe.
I urge my colleagues to support this legislation and send it to the
President's desk to be signed into law as soon as possible.
Mr. President, I ask unanimous consent that the text of the bill be
printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 1739
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Minnesota Chippewa Tribe
Judgment Fund Distribution Act of 2011''.
SEC. 2. FINDINGS.
Congress finds that--
(1) on January 22, 1948, the Minnesota Chippewa Tribe,
representing all Chippewa bands in the State of Minnesota
except the Red Lake Band, filed a claim before the Indian
Claims Commission in Docket No. 19 for an accounting of all
amounts received and expended pursuant to the Act of January
14, 1889 (25 Stat. 642, chapter 24) (referred to in this Act
as the ``Nelson Act'');
(2) on August 2, 1951, the Minnesota Chippewa Tribe,
representing all Chippewa bands in the State of Minnesota
except the Red Lake Band, filed a number of claims before the
Indian Claims Commission in Docket No. 188 for an accounting
of the obligation of the Federal Government to each member
Band of the Minnesota Chippewa Tribe under various statutes
and treaties not covered by the Nelson Act;
(3) on May 17, 1999, a joint motion for findings in aid of
settlement of the claims in Docket No. 19 and 188 was filed
in the Court of Federal Claims;
(4) the terms of the settlement were approved by the Court
of Federal Claims and final judgment in the matter was
entered on May 26, 1999;
(5) on June 22, 1999, $20,000,000 was transferred to the
Department of the Interior and deposited in a trust fund
account established for the beneficiaries of the amounts
awarded in Docket No. 19 and 188;
(6) pursuant to the Indian Tribal Judgment Funds Use or
Distribution Act (25 U.S.C. 1401 et seq.), Congress must act
to authorize the use or distribution of the judgment funds;
and
(7) on October 1, 2009, the Minnesota Chippewa Tribal
Executive Committee passed Resolution 146-09, approving a
plan to distribute the judgment funds and requesting that
Congress authorize the distribution of the judgment funds in
the manner described by the plan.
SEC. 3. DEFINITIONS.
In this Act:
(1) Bands.--The term ``Bands'' means--
(A) the Bois Forte Band;
(B) the Fond du Lac Band;
(C) the Grand Portage Band;
(D) the Leech Lake Band;
(E) the Mille Lacs Band; and
(F) the White Earth Band.
(2) Judgment funds.--The term ``judgment funds'' means the
$20,000,000 awarded on May 26, 1999, to the Minnesota
Chippewa Tribe by the Court of Federal Claims and transferred
to the Secretary for deposit in a trust fund account
established for the beneficiaries of Docket No. 19 and 188.
(3) Minnesota chippewa tribe.--The term ``Minnesota
Chippewa Tribe'' means the Minnesota Chippewa Tribe, composed
solely of the Bands.
(4) Secretary.--The term ``Secretary'' means the Secretary
of the Interior.
SEC. 4. LOAN REIMBURSEMENTS TO MINNESOTA CHIPPEWA TRIBE.
(a) In General.--The Secretary may reimburse the Minnesota
Chippewa Tribe the amount that the Minnesota Chippewa Tribe
contributed for attorneys' fees and litigation expenses
associated with the litigation of Docket No. 19 and 188 in
the Court of Federal Claims and the distribution of judgment
funds, plus any interest earned on that amount as of the date
of payment under this section to the Minnesota Chippewa
Tribe.
(b) Procedure.--
(1) In general.--To receive a reimbursement payment under
subsection (a), not later than 90 days after the date of
enactment of this Act, the Minnesota Chippewa Tribe shall
submit to the Secretary a written claim for the reimbursement
amount described in that subsection, subject to the condition
that the Minnesota Chippewa Tribe certify that the
reimbursement expenses claimed have not been reimbursed to
the Tribe by any other entity.
(2) Payment.--If the Minnesota Chippewa Tribe submits a
claim to the Secretary in accordance with paragraph (1), the
Secretary shall, using the judgment funds, pay to the
Minnesota Chippewa Tribe the full reimbursement amount
claimed, plus interest on that amount, calculated at the rate
of 6.0 percent per year, simple interest, beginning on the
date on which the amounts were expended by the Tribe and
ending on the date on which the amounts are reimbursed to the
Tribe.
SEC. 5. DISTRIBUTION OF JUDGMENT FUNDS.
(a) Membership Rolls.--Not later than 90 days after the
date of enactment of this Act, the Minnesota Chippewa Tribe
shall submit to the Secretary an updated membership roll for
each Band of the Tribe, each of which
[[Page S6768]]
shall include the names of all enrolled members of that Band
living on the date of enactment of this Act.
(b) Disbursement of Available Funds.--
(1) Per capita account.--After the date on which any
amounts under section 4 have been disbursed and the Secretary
has received the updated membership rolls under subsection
(a), the Secretary shall, from the remaining judgment funds,
deposit in a per capita account established by the Secretary
for each Band, an amount that is equal to $300 for each
member of that Band listed on the updated membership roll.
(2) Remaining amounts.--If, after the disbursement
described in paragraph (1), any judgment funds remain
undisbursed, the Secretary shall deposit in an account
established by the Secretary for each Band, which shall be
separate from the per capita account described in paragraph
(1), all remaining amounts, divided equally among the Bands.
(c) Use of Amounts.--
(1) Disbursement of per capita payments.--Any amounts
deposited in the per capita account of a Band described in
subsection (b)(1) shall be--
(A) made available to the Band for immediate withdrawal;
and
(B) used by the Band solely for the purpose of distributing
1 $300 payment to each individual member of the Band listed
on the updated membership roll.
(2) Treatment of dependents.--For each minor or dependent
member of the Band listed on the updated roll, the Band may--
(A) distribute the $300 payment to a parent or legal
guardian of that dependent Band member; or
(B) deposit in a trust account the $300 payment of that
dependent Band member for the benefit of that dependent Band
member, to be distributed under the terms of the trust.
(d) Unclaimed Payments.--If, on the date that is 1 year
after the date on which the amounts described in subsection
(b)(1) are made available to a Band, any amounts remain
unclaimed, those amounts shall be returned to the Secretary,
who shall deposit the remaining amounts in the accounts
described in subsection (b)(2) in equal shares for each Band.
(e) No Liability.--The Secretary shall not be liable for
the expenditure or investment of any amounts disbursed to a
Band from the accounts described in subsection (b) after
those amounts are withdrawn by the Band.
SEC. 6. ADMINISTRATION.
Amounts disbursed under this Act--
(1) shall not be liable for the payment of previously
contracted obligations of any recipient, as provided in
section 2(a) of Public Law 98-64 (25 U.S.C. 117b(a)); and
(2) shall be subject to section 7 of the Indian Tribal
Judgment Funds Use or Distribution Act (25 U.S.C. 1407).
______
By Mr. CARDIN (for himself, Ms. Mikulski, Mr. Warner, Mr. Webb,
Mr. Carper, and Mr. Coons):
S. 1740. A bill to amend the Chesapeake Bay Initiative Act of 1998 to
provide for the reauthorization of the Chesapeake Bay Gateways and
Watertrails Network; to the Committee on Environment and Public Works.
Mr. CARDIN. Mr. President, authorized under P.L. 105-312 in 1998 and
reauthorized by P.L. 107-308 in 2002, the Chesapeake Bay Gateways and
Watertrails Network helps several million visitors and residents find,
enjoy, and learn about the special places and stories of the Chesapeake
and its watershed. Today I am introducing legislation to reauthorize
this successful program.
For visitors and residents, the Gateways are the ``Chesapeake
connection.'' The Network members provide an experience of such high
quality that their visitors will indeed connect to the Chesapeake
emotionally as well as intellectually, and thus to its conservation.
The Chesapeake Bay is a national treasure. The Chesapeake ranks as
the largest of America's 130 estuaries and one of the Nation's largest
and longest fresh water and estuarine systems. The Atlantic Ocean
delivers half the bay's 18 trillion gallons of water and the other half
flows through over 150 major rivers and streams draining 64,000 square
miles within 6 States and the District of Columbia. The Chesapeake
watershed is among the most significant cultural, natural and historic
assets of our Nation.
The Chesapeake is enormous and vastly diverse--how could you possibly
experience the whole story in any one place? Better to connect and use
the scores of existing public places to collaborate on presenting the
many chapters and tales of the bay story. Visitors and residents go to
more places for more experiences, all through a coordinated Gateways
Network.
Beyond simply coordinating the Network, publishing a map and guides,
and providing standard exhibits at all Gateways, the National Park
Service has helped Gateways with matching grants and expertise for 200
projects with a total value of more than $12 million. This is a great
deal for the bay--it helps network members tell the Chesapeake story
better and inspires people to care for this National Treasure--and it
is a good deal for the Park Service. In this legislation, we cap the
Gateways authorization at just $2 million annually. It serves all 150+
Gateways and their 10 million visitors. No other National Park can
provide such a dramatic ratio of public dollars spent to number of
visitors served.
With the National Park Service's expertise and support, Gateways have
made significant progress in their mission to tell the bay's stories to
their millions of members and visitors, extend access to the bay and
its watershed, and develop a conservation awareness and ethic. It is
time to reauthorize the Chesapeake Gateways and Watertrails program. It
is my hope that the Congress will act quickly to adopt this
legislation.
Mr. President, I ask unanimous consent that the text of the bill be
printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 1740
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Chesapeake Bay Gateways and
Watertrails Network Reauthorization Act''.
SEC. 2. AUTHORIZATION OF APPROPRIATIONS.
Section 502(c) of the Chesapeake Bay Initiative Act of 1998
(16 U.S.C. 461 note; Public Law 105-312) is amended by
striking ``fiscal years'' and all that follows through the
period at the end and inserting ``fiscal years 2012 through
2016.''.
____________________