[Congressional Record (Bound Edition), Volume 146 (2000), Part 7]
[House]
[Page 10200]
[From the U.S. Government Publishing Office, www.gpo.gov]



                  THE MULTI-MILLIONAIRE PROTECTION ACT

  (Mr. OLVER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. OLVER. Mr. Speaker, the so-called Death Tax Elimination Act 
should be called the Multi-millionaire Protection Act. It does tell 
America what Republican priorities really are.
  Before anything else, the Republican leadership would give a huge, 
reckless and dangerous backloaded tax cut to only 2 percent of 
Americans, and more than half of the tax cut goes to the wealthiest 
one-tenth of 1 percent. That is right, more than half of it would be 
available to fewer than 60,000 families out of more than 60 million 
families.
  Do the Republicans really believe that the Bill Gates and Steve 
Forbes and John Corzines need $25 billion of tax cuts every year? Does 
anyone listening or watching today believe they need $25 billion of tax 
cuts?
  But the Republican leadership would give that multi-billion dollar 
tax cut before limiting class sizes to 18 for 3 million children, 
before establishing a prescription drug benefit as part of Medicare for 
13 million American senior citizens who cannot afford the expense of 
insurance coverage.
  It is a stunning revelation to know that the Republicans' highest 
priority is a huge tax cut that only benefits the wealthiest 2 percent 
of Americans. Vote for the substitute and against this giveaway.

                          ____________________