Financial Games

Floor Speech

Mr. GARAMENDI. Mr. Speaker, I'm astounded. I'm astounded with what I just heard. This is a problem that was actually created nearly a decade ago by the Republicans as they were playing financial games. And to stand here on the floor and say this has to be fixed now, yes, indeed it does, but indeed it is the Republican Party that has prevented us from fixing it. That's going on right now as the negotiations take place on the American Jobs Act and corporate tax loophole closing--closing the tax loopholes on corporations that are in fact shipping jobs offshore.

I would ask the Republicans in this House to stand with us and do a permanent fix. It can be done. But it's not going to be easy. We need to raise the tax revenue. A good place to raise it is from those corporations that are shifting jobs offshore.

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