[Congressional Record (Bound Edition), Volume 151 (2005), Part 16]
[House]
[Page 21491]
[From the U.S. Government Publishing Office, www.gpo.gov]




               FINDING A WAY TO PAY FOR HURRICANE DAMAGE

  (Mr. BISHOP of New York asked and was given permission to address the 
House for 1 minute.)
  Mr. BISHOP of New York. Mr. Speaker, yesterday the chairman of the 
Council of Economic Advisers, Ben Bernanke said: ``Every effort needs 
to be made to try and offset the cost of Katrina and Rita by reductions 
in other government programs.'' He suggested following through with 
eliminating or severely cutting 154 health care, education, and 
infrastructure priorities as proposed in the President's budget in 
order to meet his goal of cutting the deficit in half in 5 years.
  What would these cuts entail? A $4.3 billion cut from the Education 
Department's budget and $2 billion from the Health and Human Services 
budget, just to name a few.
  But what did Mr. Bernanke not suggest might help this President reach 
his deficit reduction goals? Any hint of rolling back tax cuts for the 
wealthiest Americans who earn over $400,000 or scaling back the estate 
tax cut which has no impact on 98 percent of American families?
  Mr. Speaker, it is imperative that we find ways to pay for the 
hurricane damage, but we cannot afford to hold sacred the tax cuts for 
the wealthiest Americans at the expense of the values, priorities, or 
needs of middle-class Americans. They deserve better.

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