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Congressional Record—House H1272 H1272 CONGRESSIONAL RECORD — HOUSE March 10, 2005 could be money going to education, For instance, Colgate-Palmolive said until the Bush administration takes its going to health care, going to address that while the corporate tax bill will privatization plan off the table, we can- the infrastructure of our Nation. allow it to repatriate half a billion dol- not work together to address Social Se- So the President’s plan clearly needs lars in profits, the company will actu- curity solvency. help. And his failure to provide a clear ally shut down a third of its factories Even one of our Republican col- and honest accounting of the difficult and lay off 4,400 employees. leagues, Senator LINDSEY GRAHAM, has tradeoffs between increases in debt, Sun Microsystems, $1 billion in new admitted that privatization is not a benefits cuts and tax increases shows a profits during the so-called corporate plan that will fix Social Security. On failure in leadership. tax ‘‘holiday,’’ will be repatriated, but Tuesday he said, ‘‘We now have this f plans to lay off 3,600 employees. huge fight over a sideshow. It has al- DuPont Photomasks is repatriating ways been a sideshow, but we sold it as b 1100 $24 million, but laying off 100 employ- the main event.’’ That is a Republican DENOUNCING VIOLENCE AGAINST ees, while expanding its Singapore fac- Senator calling the President’s plan a WOMEN AND SUPPORTING VITAL tory at the same time. sideshow. SOCIAL SECURITY BENEFITS While the corporate suites enjoy the Mr. Speaker, it is a sideshow because FOR WOMEN fruits of this tax cut, Americans are it does nothing to strengthen Social Security. Democrats are willing to (Ms. JACKSON-LEE of Texas asked left with less jobs and more of a burden work with Republicans to extend sol- and was given permission to address for the Nation’s debt: $30,000 for every vency beyond 2052, but we cannot do the House for 1 minute and to revise man, woman, and child. that until Republicans are serious and extend her remarks.) Mr. Speaker, thanks to the corporate Ms. JACKSON-LEE of Texas. Mr. tax cut bill, we can expect that share about extending solvency and rejecting Speaker, I rose earlier this week to of the debt to keep growing for Ameri- privatization. Democrats want to keep Social Secu- again join with my colleagues to an- cans. rity secure for the future. When that is nounce our mutual stand against vio- f the Republican goal, we can finally lence against women. Sexual assault, PRESIDENT’S SOCIAL SECURITY begin to work together in a bipartisan violence against women takes away PRIVATIZATION PLAN UNDER- fashion. their dignity and their human dignity; MINES RETIREES’ NEST EGGS and all of us demand that kind of re- f spect. (Mr. GEORGE MILLER of California TRANSPORTATION EQUITY ACT: A So as I stand here today, I ask Amer- asked and was given permission to ad- LEGACY FOR USERS dress the House for 1 minute and to re- ica as well to recognize the negative Mrs. CAPITO. Mr. Speaker, by direc- impact that the present posture on So- vise and extend his remarks.) Mr. GEORGE MILLER of California. tion of the Committee on Rules, I call cial Security will have on America’s up House Resolution 144 and ask for its women. Because many of them are Mr. Speaker, today we are reminded in the press that it is 5 years since the immediate consideration. head of household, many of them de- The Clerk read the resolution, as fol- bubble burst on the NASDAQ stock mand and depend upon the requirement lows: market. It has been 5 years; and those or the retirement benefits that come H. RES. 144 through the Social Security program. people who invested in that market, in those index funds, have recovered 60 Resolved, That at any time after the adop- Social Security privatization, as tion of this resolution the Speaker may, pur- planned now, will cost more than $4 percent, or is still 60 percent below suant to clause 2(b) of rule XVIII, declare the trillion in the first 20 years, according where it was in 2000. House resolved into the Committee of the to independent experts. There is no For those people who thought they Whole House on the state of the Union for mention of such cost in the pending are going to retire on their 401(k)s who further consideration of the bill (H.R. 3) to budget. were invested in the market at that authorize funds for Federal-aid highways, The Republican plan undermines re- point, we have all heard the stories highway safety programs, and transit pro- grams, and for other purposes. No further tirement security for all Americans by when we return to our districts that their spouses are going to continue to general debate (except for the final period cutting guaranteed benefits by more contemplated in House Resolution 140) shall than 40 percent. In fact, the average re- work, that they are going to postpone be in order. No further amendment to the tiree would lose $152,000 in benefits for a year; they are not going to be bill, as amended, shall be in order except under the privatization plan. Women able to retire like they thought they those printed in the report of the Committee benefit from the survivors benefit, but were. on Rules accompanying this resolution. Each many times they have lost their This does not mean we should not in- such amendment may be offered only in the spouse. vest in the market; it simply means we order printed in the report, may be offered Let us not take away the human dig- should not take $15 trillion out of So- only by a Member designated in the report, cial Security and undermine the guar- shall be considered as read, shall be debat- nity from American women. Let us able for the time specified in the report stand against violence and stand for antee that it provides to those work- equally divided and controlled by the pro- the sovereignty of Social Security. ers, those very same workers, in many ponent and an opponent, shall not be subject f instances, who, in their corporate to amendment, and shall not be subject to a 401(k)s have lost almost 40 percent, if demand for division of the question in the CORPORATE TAX CUTS AND they stayed there today, of their re- House or in the Committee of the Whole. All LAYOFFS tirement nest egg. That nest egg ought points of order against such amendments are (Mr. EMANUEL asked and was given to be preserved, and the President waived. At the conclusion of the final period permission to address the House for 1 should not be allowed to undermine of debate, the Committee shall rise and re- port the bill, as amended, to the House with minute.) that nest egg by taking $15 trillion out such further amendments as may have been Mr. EMANUEL. Mr. Speaker, we are of Social Security. adopted. The previous question shall be con- now running structural deficits on av- f sidered as ordered on the bill and amend- erage of a little over $400 billion a year. ments thereto to final passage without inter- In 4 short years, we have added $2 tril- KEEPING SOCIAL SECURITY vening motion except one motion to recom- lion to the Nation’s debt and have a SECURE FOR THE FUTURE mit with or without instructions. continuing plan to do that. (Mr. PALLONE asked and was given The SPEAKER pro tempore (Mr. How did we get here? Partly as a re- permission to address the House for 1 BASS). The gentlewoman from West sult of last year’s corporate tax cut bill minute and to revise and extend his re- Virginia (Mrs. CAPITO) is recognized for which spent $150 billion on an $8 billion marks.) 1 hour. problem. Today’s Wall Street Journal Mr. PALLONE. Mr. Speaker, Presi- Mrs. CAPITO. Mr. Speaker, for the reports how this legislation has led to dent Bush and congressional Repub- purpose of debate only, I yield the cus- greater job loss. That is an interesting licans have yet to offer a plan that tomary 30 minutes to the gentlewoman economic strategy, given it intended to makes Social Security solvent beyond from New York (Ms. SLAUGHTER), pend- create jobs. the year 2052. As far as I am concerned, ing which I yield myself such time as I VerDate Aug 31 2005 05:41 Nov 16, 2006 Jkt 059060 PO 00000 Frm 00006 Fmt 7634 Sfmt 0634 E:\RECORDCX\T37X$J0E\H10MR5.REC H10MR5 CCOLEMAN on PROD1PC71 with CONG-REC-ONLINE March 10, 2005 CONGRESSIONAL RECORD — HOUSE H1273 may consume. During consideration of tion’s surface transportation system. eral aid highway dollars. These laws this resolution, all time yielded is for The numerous projects and programs are critical to help stop the threat of the purpose of debate only. authorized by this bill will improve our real and apparent corruption resulting Mr. Speaker, on Wednesday, the highway systems and the ability of our from large political contributions from Committee on Rules met and granted a constituents to travel from State to contractors to influence the awarding structured rule for further consider- State. To that end, I urge my col- of public contracts. ation of H.R. 3, the Transportation Eq- leagues to support the rule and the un- As ludicrous as it seems, the Federal uity Act: A Legacy For Users, more derlying bill. Highway Administration last year commonly referred to as TEA–LU.
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