[Congressional Record (Bound Edition), Volume 149 (2003), Part 8]
[House]
[Page 9984]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              THE ECONOMY

  (Ms. LORETTA SANCHEZ of California asked and was given permission to 
address the House for 1 minute and to revise and extend her remarks.)
  Ms. LORETTA SANCHEZ of California. Mr. Speaker, I rise today to voice 
my strong concerns over the current state of the economy and the 
President's solution to stimulate this economy.
  The President has defended his proposal for a tax cut of at least 
$550 billion, arguing that a large tax cut will create more jobs.
  Now, let us see. The last tax cut that this President did was signed 
into law, and it was the largest tax cut in history, with a cost 
nearing $2 trillion. How effective has that been in creating jobs? Let 
us see. It is estimated that 53,000 United States workers lost their 
jobs this month alone. Unemployment is still hovering around 6 percent. 
So it looks to me like the President is using more of his fuzzy math 
here.
  We need to work to come up with real solutions that reduce 
unemployment and that help us with respect to education, the 
environment, child care, and, yes, a prescription drug plan for 
seniors.
  If Members want to cut taxes, then alleviate the tax burden on the 
working poor and on the middle class; do not do it to the wealthy, who 
are the least likely to get this economy turning.

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