[Congressional Record (Bound Edition), Volume 151 (2005), Part 20]
[House]
[Pages 27634-27635]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 YACHTS FOR THE RICH, DEBT FOR THE POOR

  (Mr. DeFAZIO asked and was given permission to address the House for 
1

[[Page 27635]]

minute and to revise and extend his remarks.)
  Mr. DeFAZIO. Mr. Speaker, despite a flood, a sea of red ink, tomorrow 
Republicans propose to cut taxes. Cut taxes for whom? The wealthy. They 
want to float the yachts of the wealthy on a sea of red ink.
  One of the cuts is for people who get a chip dividend on their stocks 
and is paid for by dramatically increasing the costs of student loans.
  I have met with students at Oregon State and the University of Oregon 
during the break. These kids are working hard trying to realize the 
American Dream. Some of them are holding down three jobs and borrowing 
as much as they can, and the Republicans say they have to pay more for 
those loans so that rich people can pay a rate of taxes on dividends 
less than someone who works for $25,000 a year.
  That is an outrageous position for the majority party.

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