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Public Statements

Financial Condition of Our Nation

Floor Speech

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Date:
Location: Washington, DC

FINANCIAL CONDITION OF OUR NATION -- (House of Representatives - March 11, 2009)

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Mr. SCALISE. I appreciate my friend from Missouri yielding me time, and you are talking about what is happening today here in Congress, and all across America because as people are tightening their belts and dealing with these tough economic times in their own way, in responsible ways, it seems like Washington, this is the only place where they seem to be going on a wild spending spree, spending money that we don't have on programs that actually are causing more problems, actually hurting our economy.

If you look at these proposals, especially this tax increase, and you just showed the proposal, the taxes both on small businesses, actually the engine of our economy, small businesses over $600 billion in taxes proposed on our small businesses, and they create 70 percent of our jobs.

But what is more frightening to Americans all across the country is they realize this cap-and-trade proposal, it is a term that really means energy tax. It is a $640 billion tax on energy. People who actually use energy in their homes, if you are turning on your lights, you are going to be paying more in taxes, to the tune, the estimate that we got from the Congressional Budget Office, they estimate that this proposal in the President's budget, moving through right now, something that we can stop, but in this proposal, it actually increases individual American tax bills, the bills on their utilities, by $1,300 a year.

Imagine that, in tough economic times like we are dealing with today, if you actually want to use your air conditioner during a hot summer, $1,300.

Mr. AKIN. Reclaiming my time, you just got my attention. I had seen some numbers, but are you saying that the average family in America, what is this cap-and-trade tax going to be? It is going to increase your electric bill on the electric side?

Mr. SCALISE. Unfortunately, that is exactly what their proposal does. The Congressional Budget Office estimates, and in fact the President's own budget director, Mr. Orszag, has been saying that this will actually increase utility bills for ratepayers across the country.

Mr. AKIN. Reclaiming my time, on top of everything else, you're saying we have another thousand bucks a family in this deal?

Mr. SCALISE. Not just a thousand, $1,300 a year in electricity tax increases that people would be paying on their electric bill every year. This isn't a one-time thing.

Mr. AKIN. Reclaiming my time, that is not even talking about what you are going to do to further bury small business, who are the very people we want to create our jobs.

I see that we are joined by a highly respected congressman, the gentleman from Indiana (Mr. Pence). I yield to the gentleman.

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