June 22, 2006

Mr. Speaker, I rise in strong opposition to yet another tax break for the ultra-wealthy. This week, Republicans rejected an increase in the minimum wage that would have enabled people making $5.15 an hour to receive a $2 raise. Yet today they're falling all over themselves to give every single person worth more than $20 million a $5.6 million tax break.

A cartoonist couldn't draw a clearer illustration of the Republicans' misguided priorities. Though 46 million Americans lack health insurance and millions of children are denied access to quality education, Republicans insist on enriching those who least need our assistance.

It is irresponsible and immoral to decrease revenue by $800 billion dollars. With this money, we could provide quality health care for every man, woman and child; make the dream of affordable college a reality for all those who can't now afford higher education; or fund groundbreaking scientific research. It took us less than a decade to go to the moon. With a similar effort, we might cure AIDS or cancer.

The Republican priorities are clear: $5.6 million for each of their rich campaign donors and $0 for hard working stiffs trying to raise a family on $5.15 an hour.

The Republicans are bowing down to 18 super-wealthy families who have spent nearly $500 million lobbying for estate tax repeal. These families own everything from Amway to Wal-Mart and stand to gain billions of dollars from any so-called compromise.

Another quite wealthy man has a different view. Bill Gates Sr. recently said: “Given the fact that we have an unacceptable deficit, undeniable and huge demands resulting from our foreign involvement, and tragedies occurring here at home that need support from the federal government, it seems just plain irresponsible to talk about dismissing this particular source of federal revenue.”

I couldn't say it any better myself, and I urge all my colleagues to vote NO on this bill.