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CONGRESSIONAL RECORD—SENATE April 4, 2001 in 1996 Teresa Tested in Pittsburgh MORNING BUSINESS the Finance Committee

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CONGRESSIONAL RECORD—SENATE April 4, 2001 in 1996 Teresa Tested in Pittsburgh MORNING BUSINESS the Finance Committee April 4, 2001 CONGRESSIONAL RECORD—SENATE 5563 and then we have some sort of scheme For some people who don’t want to victims of poverty or despair, a Sen- where it is sent back to the taxpayers, turn in their war bonds or their Treas- ator who clearly recognized that our one might want to call it a grant or ury notes—they have become a collec- Nation’s Medicare program was in des- maybe call it a rebate or tor’s item—we find it is costing more perate need of overhaul. But he knew revenuesharing or earned-income tax today to pay down, in some cases, per- his colleagues on each side of the aisle credits or just a gift. The fact is, when haps as much as 43 percent more than were not then, and are still not today, you send your money to Washington the value of the bond to retire. prepared to fix Medicare. and we send it back, there is a pas- The President, again, I think has a He was a Senator who believed we senger charge. The subtle message is right balance on tax relief, on debt re- could address the myriad of environ- somehow or another it is the Govern- duction. He takes care of basic needs, mental concerns of our Nation while ment’s money. In reality, it is the tax- which I think can be supported. He has still maintaining a balanced recogni- payers’ dollars. That is where it starts. overall spending for the 10 years at 4.7 tion of America’s needs for resources They are the ones who originally send percent. He has very significant in- and business development, and a Sen- the money to Washington. creases in education in 2002, an 11.5- ator who cared deeply and loved his We need to institute a policy that percent increase, a significant increase family. recognizes hard work and productivity in defense, 4.5. We passed an amend- John Heinz left three sons and a mar- of the American taxpayers. ment here that provides another $8.5 velous wife, Teresa. Tonight, I believe I also point out that some of the phe- billion for that. He has increases for John Heinz looks down upon his family nomenal growth we are getting in reve- health. I supported doubling NIH re- and, with that big smile he had which nues to the Federal Government is a search dollars. There is money in there so many of us remember, he must be consequence of having reduced the cap- for transportation and veterans health. very, very proud. His family has con- ital gains tax a couple years back. I think this is a good budget. It is a tinued his commitment to his values. When you reduce the capital gains tax, good starting place. I am disappointed John Heinz IV has started a school to historically the revenues to the Fed- today we chipped away at some of that help children who are on the verge of eral Government have always in- tax cut. I think that means there will being discarded by the public school creased. We have reduced capital gains be less opportunity for economic system realize their value and impor- rates from 28 percent to 20 percent. growth for people, particularly in the tance and that people really do care What happened? We opened the flood- small business sector, who look for a about them. Andre´ Heinz is pursuing gates of commerce. reduction in the burden of taxes in his environmental interests and advo- With these new dollars coming into order to be able to grow their business the Federal Government from more cacy by helping businesses across the and to create jobs. commerce, you end up having more globe understand how business and the I thank the chairman of the Appro- revenue. I think that is a tax cut. It environment can coexist and in many priations Committee, Senator STE- has been taxpayers who got that ad- instances make larger returns for in- vantage. The result is more revenue is VENS, for allowing me to speak. This is vestors and working men and women. coming to the Federal Government. I an important issue. Christopher Heinz is finishing his MBA don’t think we have recognized that The PRESIDING OFFICER. The Sen- degree at the same school from which phenomenon enough on the Senate ator from Alaska. his father graduated. Christopher is floor, and I want to take a moment to Mr. STEVENS. I ask my remarks be likely to follow a business path, as his point that out. charged similarly to those of the Sen- father did when Jack left Harvard. The proposal being suggested by the ator from Colorado. But his greatest untold story, the un- President is a very balanced proposal. I The PRESIDING OFFICER. Without told story of the family, concerns Jack think it has the right amount of tax objection, it is so ordered. Heinz’s wife, partner, spirit, and true cuts. I think it addresses debt reduc- f love. Teresa Heinz is a personal friend tion. IN MEMORY OF SENATOR JOHN of mine and my wife Catherine, some- Now, on debt reduction, as I have HEINZ one we have known for many years. looked at the issue of how much you ‘‘Extraordinary’’ is the word I use to can pay down the debt when you get Mr. STEVENS. Mr. President, 10 describe Teresa. Following John’s down to the bottom trillion dollars— years ago today Pennsylvania lost a death, she assumed the helm of the that is a lot of money still—there are great U.S. Senator, America lost a fu- many Heinz family philanthropies and some fundamental issues at which this ture President, and I lost a very dear has nurtured them since then. They Congress needs to look. friend. On April 4, 1991, Senator John were among the most innovative and For example, in some of the testi- Heinz was tragically killed in an air- pioneering foundations in this Nation. mony we had before the Budget Com- plane crash. He was not only a close Teresa made sure that none of us mittee, the Fed, in managing the personal friend. I was chairman of the ever forget John or the visionary work money supply of this country, uses campaign committee when he was he was pursuing by ensuring the Heinz debt. There is about $500 billion they elected. We sat by each other on the family philanthropies and the Howard use to manage that debt. If we are to floor for years. We traveled together. Heinz Foundation and endowment con- completely pay down the debt, there We fished for blues together off Nan- tinue the pioneering work started by has to be a fundamental discussion as tucket. And we worked on many issues my friend, Jack Heinz. To honor Jack, to what you want the role of the Fed- together in the Senate. Teresa created the Heinz Awards in eral Government to be. Do you want Tonight I make these few comments 1993, a program to remember Jack, as the Fed to still have that ability to in remembrance of my colleague. John Teresa said then, ‘‘in a way that would manage the supply of the dollar? If you Heinz was an extraordinary man. A inspire not just me, but the rest of us.’’ want that, we will have to keep some person of great personal wealth, he was When she announced the program, Te- debt in there so they can manage it. If a Senator who cared dearly and deeply resa explained: you want to turn the dollar completely about average men and women, a Sen- I view the Heinz Awards in a sense as the free on the market without any oppor- ator who fought to tear down anti- awards of the 21st century because they rec- tunity for the Fed to regulate supply, quated age discrimination laws which ognize the very qualities we must embrace if then perhaps the proper solution is to failed to recognize and value the im- we are to create the sort of future we would go ahead and pay the debt even further. portance of older workers, a Senator want to live in.... The Heinz Awards will That is a basic fundamental public pol- who championed trade relief and ad- measure achievements but also intentions. icy that I think needs to be discussed justment for working men and women, I gave one of the first of those Heinz in the Congress. I think we need to as well as business, who fought any ad- Awards to Andy Grove, a founder of have some discussion among ourselves ministration to ensure that workers Intel, to show just how important they about how important that is. hurt by our trade laws would not be have been to our economy. VerDate Aug 04 2004 02:00 Feb 23, 2005 Jkt 039102 PO 00000 Frm 00070 Fmt 0686 Sfmt 0634 E:\BR01\S04AP1.002 S04AP1 5564 CONGRESSIONAL RECORD—SENATE April 4, 2001 In 1996 Teresa tested in Pittsburgh MORNING BUSINESS the Finance Committee. He had a place her idea on how best to ensure early Mr. STEVENS. Mr. President, I now on the Banking Committee. He was childhood education development was ask unanimous consent there be a pe- chairman of the Aging Committee. It not just talked about but actually pur- riod for morning business with Sen- was rumored that he intended to run sued. With a coalition of business lead- ators permitted to speak for up to 10 for Governor of Pennsylvania in 1994, ers, the Heinz endowments launched minutes each.
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