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Public Statements

Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

Floor Speech

By:
Date:
Location: Washington, DC

BREAK IN TRANSCRIPT

Mr. LYNCH. Mr. Chairman, I thank the gentleman for yielding.

I associate myself with the remarks of the gentleman from Arizona who spoke earlier. There is another important number in this bill, and that number is $119 billion--$119 billion. You might ask why that number is important. That is the amount of money that this bill will rob from the Social Security trust fund if it is implemented, at a time when more and more of our seniors rely on Social Security as their sole source of income, at a time when more and more of our seniors are vulnerable and are on fixed income and can't go out and get a second job, at a time when more American workers are desperately needing Social Security benefits because their defined benefit pensions have gone away, any kind of pensions have gone away.

In spite of the remarks of the gentleman from Louisiana who just spoke, it is easy to forget that on most of these issues, Democrats and Republicans agreed. We agreed that 98 percent of Americans needed a tax break continued. We are fighting about that 2 percent. That is where the argument is. We are arguing about people who have $10 million in an estate. In a windfall to them, should they pay taxes?

It is interesting that in this bill, those people have been protected, but the folks who are on Social Security and the solvency of the Social Security trust fund is fair game. Vote ``no'' on this measure.

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