Providing for Consideration of H. R. 5970, Estate Tax and Extension of Tax Relief Act of 2006
PROVIDING FOR CONSIDERATION OF H.R. 5970, ESTATE TAX AND EXTENSION OF TAX RELIEF ACT OF 2006 -- (House of Representatives - July 28, 2006)
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Mr. WAMP. I thank the gentleman for yielding. I had no intention of speaking, but I do think that some balance and reason needs to set in here. I hate to see people I respect on the other side of the aisle say things that have really dumbed down this entire debate because I will tell you what this rule and the underlying legislation actually represents. It represents a responsible way for us to address real problems in this economy when wages haven't gone up from the bottom in 9 years, with a strong economy.
I went to my conference this week, and I said to our conference that corporate leaders haven't been responsible enough and the economy is strong. And I will tell you one reason it's strong is because our tax policy has been good for America and the economy is growing. Just this week in my home city, record construction, strong economy, low unemployment. And so this is something we want to address.
The other side says all the time, Well, you run this place. You've got majorities in the House and the Senate. And I want to remind them that we do. And if we didn't want to do this, we wouldn't do it. But we are doing it this way because this is the better way to do it. Because the small businesspeople and the family farmers need certainty in terms of this estate tax. We eliminated it, but it comes back. It is an onerous tax, it is an unfair tax, and when you raise wages, which is a fixed cost in business, you have to compensate that with smart business investments through tax policy.
Our tax policy has been good for America. Our economic policy is good for America. And frankly this wage increase is a savvy way to put it all together and make this medicine for America go down smooth and keep our economy strong. Because this will force some fixed costs up in small business and you can't just throw it on them without some people losing their jobs, and this is a fair and responsible way to do it.
I know why you are so mad and why you say things you don't really mean, because you have seen us really outfox you on this issue tonight. That is what we are doing today, is bringing a very crafty, smart, good-for-America, good-for-the-economy package and still allow the minimum wage to go up.
I hope it passes this body, the other body, because it is going to be good for America in the aggregate, not individual pieces. Right now would be an excellent time to actually put this package forward together, and I believe the country will be much better off.
I am proud of this majority that we figured out the best way to do this and do it right now. It is an excellent time. I thank our leadership for bringing this to the floor tonight. And it is not in the middle of the night. As a matter of fact, it is broad daylight here in Washington, and it is going to be that way through this entire debate across most of America.
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