Sequester Replacement Reconciliation Act of 2012

Floor Speech

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Mr. PASCRELL. Mr. Speaker, I believe that our Vice President, JOE BIDEN was correct when he said, ``Don't tell me what you value, show me your budget, and I'll tell you what you value''. Well Mr. Speaker, we have seen the Tea Party budget, and we sure know what their values are.

The majority values millionaires over women and children's access to healthcare. They value corporate welfare for outsourcing jobs over helping the next generation of workers afford college. And they value oil and gas companies over ensuring that our most vulnerable citizens, including seniors and children, have access to important nutrition and healthcare programs, plain and simple.

As a Member of the Committee on Ways and Means, I fought against that committee's unfair reconciliation legislation that inordinately Placed the burden of increased defense spending and tax cuts for the very wealthy on seniors, the disabled and middle class families.

Instead of asking the wealthiest amongst us to pay just a small fraction of their income more, the majority's legislation squeezes it out of the 14.5% of U.S. children living in poverty in New Jersey. This bill will snatch $1,800 from the pockets of a family earning $21,000 a year. Instead of cutting back on oil and gas subsidies for companies like Exxon, which made an almost $10 billion profit last quarter, this bill cuts $47 billion in tax credits for middle class families could to purchase health insurance.

In short, the majority's choice is to cut $75 billion from programs that directly benefit seniors, the middle class and poor, in order to protect special interests and millionaires.

We must fight back against the Tea Party assault on the middle class, women, children, and the poor, and I ask my colleagues to vote no on this legislation.

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