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Public Statements

Cut, Cap, and Balance Act of 2011

Floor Speech

By:
Date:
Location: Washington, DC

BREAK IN TRANSCRIPT

Mr. ANDREWS. Madam Speaker, the country has a job crisis. We have the same private sector jobs we did in 2001 and 14 percent more people looking for work. One of the ways to solve that job crisis, not the only way, is to try to keep interest rates stable and low so entrepreneurs can invest.

Today represents a terrible wasted opportunity. On the other side of this Capitol this very morning, three Democratic Senators and three Republican Senators came together and said they were ready to embrace a plan that begins by cutting spending about $3 out of every $4. It cuts social programs. It would cut defense, get us out of Iraq and Afghanistan. It would take a serious look at Medicare and Social Security, which are in many cases contributing to this deficit. And it would say that those who benefit from ethanol subsidies and oil company tax breaks, the wealthiest people in this country would have to pay a little bit more to pay their fair share.

Something like that is what should be on the floor here this afternoon because it can pass, the President can sign it, and it can solve the fiscal problems of this country or take a step in the right direction. But we don't have something like that. Instead, we have a plan that says the following and puts it in the Constitution:

The guy who runs an ethanol company who gets massive public subsidies to make profits is completely left alone. He doesn't have to do anything. But the woman who cleans his office at night is going to have to pay more to go to college, more for health care for herself, her children, and her parents, and more for just about anything else she wants in her life.

There is something wrong with that picture.

Sacrifice that is equitably and broadly shared is needed in this country, but a blind adherence to a special class of Americans who are so powerful and so entitled they pay nothing is the wrong way to go. And the last thing in the world we ought to do is put that error on the Constitution.

Vote "no'' on this travesty.

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Mr. ANDREWS. I'd like to take time out for just a minute and go back to the question I'm hearing most people in America ask about, which is jobs. And one of the things we keep hearing from the other side is that asking ethanol producers to give up their subsidy or asking corporations to give up their special loopholes is a job-destroying idea.

Please, before you cast this vote, all Members look at these facts. In 2001, and again in 2002, we did what the majority says endlessly they want to do--cut taxes on the wealthiest Americans. The economy produced zero net private sector jobs between 2001 and 2008.

In 1993, President Clinton did the opposite of what the majority says it wants to do. He made a modest increase in the tax rate of the wealthiest Americans. The economy produced 23 million new private sector jobs.

The House deserves the facts in going forward in this debate, and the American people deserve a real jobs plan from this House.

BREAK IN TRANSCRIPT


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