[Congressional Record (Bound Edition), Volume 155 (2009), Part 22]
[House]
[Page 29847]
[From the U.S. Government Publishing Office, www.gpo.gov]




     ``LET WALL STREET PAY FOR THE RESTORATION OF MAIN STREET'' ACT

  (Ms. HIRONO asked and was given permission to address the House for 1 
minute.)
  Ms. HIRONO. Madam Speaker, out-of-control financial speculation on 
Wall Street contributed to the deep economic hole we're in today. 
Taxpayers have paid the price, risking around $3 trillion to stabilize 
the financial system. Astonishingly, the top three bailed-out firms are 
reportedly on track to pay $30 billion in bonuses to top executives 
this year. In the meantime, furloughs, unemployment, and foreclosure 
are weighing on American families. Limited access to lending is still a 
problem for many small businesses.
  It's time for us to institute a modest transaction tax on trades of 
stocks, options, and swaps. Even a small tax of a quarter percent on 
these securities could raise up to $150 billion a year. Part of this 
revenue should be used to invest in our Nation's infrastructure, 
creating jobs and putting Americans back to work again.
  I ask my colleagues to support the ``Let Wall Street Pay for the 
Restoration of Main Street Act.'' Wall Street needs to be part of the 
solution, not an ongoing part of the problem.

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