[Congressional Record (Bound Edition), Volume 156 (2010), Part 7]
[House]
[Pages 9295-9296]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     CLOSING THE SPENDING LOOPHOLE

  (Mr. CONAWAY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)

[[Page 9296]]


  Mr. CONAWAY. Madam Speaker, in the next couple of days, the House is 
scheduled to vote on a bill called the American Jobs and Closing Tax 
Loopholes Act. Yet, for all of its parts, the bill fails to address the 
largest loophole of all--the double-spending loophole.
  Last week, it was reported that the majority plans to fund a new 
billion dollar summer jobs program with revenue from a tax increase on 
each barrel of oil. One problem: the revenue they're counting on has 
already been promised to the Oil Spill Liability Trust Fund to cover 
the estimated $14 billion in damages on our Gulf Coast.
  Madam Speaker, you don't need to be a CPA to know that you cannot 
spend the same dollar twice. Yet, just like the health care bill, the 
majority is again spending revenue that has already been committed to 
other programs. Using this deception is wrong, and it further inflames 
the distrust of the American people for our institution. The first 
loophole we ought to be closing is the double-spending loophole.

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