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Extensions of Remarks 27396 EXTENSIONS OF REMARKS October 3, 1990 EXTENSIONS OF REMARKS HONOR THY PLEDGE voters can decide whether there was some Bill Mccollum <R., Fla.). justification for their vote in favor of the Bob McEwen CR., Ohio>. second largest tax increase in American his­ Carlos Moorhead <R., Calif.). HON. FORTNEY PETE ST ARK tory." Half a dozen other tax groups an­ Howard Nielson CR., Utah). OF CALIFORNIA nounced yesterday that they will publicize Michael Oxley CR., Ohio). IN THE HOUSE OF REPRESENTATIVES the names of those who break the pledge. Ron Packard (R., Calif.). Wednesday, October 3, 1990 A great many Members will have reasons Stan Parris CR., Va.). to support the "bipartisan" budget agree­ Bill Paxon CR., N.Y.>. Mr. ST ARK. Mr. Speaker, following is an ment. Voters deserve to know whether or Tom Petri (R., Wis.). editorial from the Wall Street Journal of Octo­ not their representative earlier promised, John Porter <R., Ill.). ber 2, 1990, concerning the 103 Members without any qualifications, to hold the line James Quillen CR., Tenn.). who signed a pledge not to increase ta>ces. on income taxes. Here is the list of Members Arthur Ravenel (R., S.C.). I, for one, strongly support progressive ta>c who have taken the pledge against higher John Rhodes <R., Ariz.). changes designed to ensure that the wealthy, taxes: Matt Rinaldo <R., N.J.). Dick Armey (R., Texas). who benefited so much from the excesses of Don Ritter <R.. Pa.>. Richard Baker CR., La.). Pat Roberts CR., Kan.). the 1980's, pay for their repair of that decade. Cass Ballenger CR., N.CJ. Tommy Robinson CR., Ark.). But the budget summit is not progressive; it is Doug Barnard <D., Ga.). Dana Rohrabacher (R., Calif.). regressive-and I oppose it. Steve Bartlett CR., Texas). Toby Roth CR., Wis.>. Since our worth as elected officials is only Joe Barton CR., Texas). Jim Saxton <R.. N.J.). as good as our word, I trust that the 103 Michael Bilirakis <R., Fla.). Dan Schaefer (R., Colo.). Members will all oppose this regressive pack­ Thomas Bliley <R., Va.). Bill Schuette <R., Mich.). age. William Broomfield <R., Mich.). Clay Shaw <R., Fla.). I would also like to enter into the RECORD Hank Brown <R.. Colo.). Norman Shumway (R., Calif.). Jack Buechner <R.. Mo.). Bud Shuster (R., Pa.). the column by the Washington Post's chief Jim Bunning (R., Ky.). Chris Smith (R., N.J.). economic writer, Hobart Rowen, entitled, "The Dan Burton <R.. Ind.). Denny Smith <R.. Ore.). Budget Deal: Too Much for the Rich." . Sonny Callahan <R., Ala.). Lamar Smith CR., Texas). HONOR THY PLEDGE Howard Coble <R., N.C.). Peter Smith <R.. Vt.). "I pledge to the taxpayers of the District Larry Combest (R., Texas). Robert Smith <R., N.H.). of the State of --- and to the American Jim Courter CR., N.J.). Gerald Solomon (R., N.Y.). people that I will: Chris Cox <R., Calif.). Floyd Spence CR., S.C.). "One, oppose any effort to increase mar­ Larry Craig <R., Idaho). Arlan Stangeland (R., Minn.). ginal tax rates from the 15% and 28% rates Phil Crane (R., Ill.). Bob Stump CR., Ariz.). for individuals and the 34% top rate for Bill Dannemeyer <R., Calif.). Don Sundquist CR., Tenn.). businesses; and Kika de la Garza <D., Texas). Guy Vander Jagt <R., Mich.). "Two, oppose any further reduction or Tom DeLay (R., Texas>. Barbara Vucanovich <R.. Nev.). elimination of deductions and credits, unless Bob Dornan CR., Calif.). Bob Walker CR., Pa.). matched dollar for dollar by further reduc­ Chuck Douglas <R.. N.H.). Vin Weber (R., Minn.). ing tax rates." David Dreier CR., Calif.). Bob Whittaker (R., Kan.). For the past few years, the Washington­ Mickey Edwards <R.. Okla.). Bill Young (R., Fla.). based Americans for Tax Reform has circu­ Bill Emerson (R., Mo.). Don Young CR., Alaska>. lated the above pledge as an insurance Jack Fields CR., Texas). policy that the 1986 tax reform would not Elton Gallegly (R., Calif.). ,THE BUDGET DEAL: Too MUCH FOR THE RICH be easily subverted. Well, the budget deal is Dean Gallo (R., N.J.). subverting that reform, so it's time to revisit George Gekas CR., Pa.). <By Hobart Rowen) the tax pledge. Newt Gingrich <R.. Ga.). At first, I thought that the deficit-reduc­ The pledge's importance is simple. The Bill Goodling (R., Pa). tion package would be better than nothing budget agreement includes an effective in­ Porter Goss <R.. Fla.). at all, and that Congress should hold its col­ crease in marginal tax rates by forcing tax­ Fred Grandy (R., Iowa>. lective nose and vote for it: without some payers to reduce their itemized deductions Steve Gunderson CR., Wis.). action, there would be a mindless across­ by $300 for every $10,000 in income over John Hammerschmidt CR., Ark.). the-board sequester bringing many elements $100,000. In effect, it blows the so-called Mel Hancock <R.. Mo.). of essential government to a screeching, ir­ "bubble" up higher and longer so that more James Hansen CR., Utah). rational halt. taxpayers pay higher marginal tax rates Dennis Hastert CR., Ill.). But after reflection, my conclusion is that over more of their income. Joel Hefley <R., Colo.). the price is too high: the budget "summi­ The budget agreement stipulates that a Wally Herger <R.. Calif.). teers" at the last minute sneaked into the majority of the Members of each party in John Hiler CR., Ind.). deal a slew of new tax shelters that would both Houses must vote for the entire agree­ Clyde Holloway CR., La.). cost $12 billion over five years. ment for it to take effect. To date, 101 Re­ Duncan Hunter CR., Calif.). It breaks faith with taxpayers who bought publicans and two Democrats in the House Henry Hyde <R., Ill.). the 1986 Tax Reform Act, which cut the top have signed statements saying they will Jim Inhofe (R., Okla.). rate for the wealthy to 28 percent, on the honor the anti-tax pledge. Only 75 House Andy Ireland (R., Fla.). basis that tax loopholes and shelters were to Republicans have not signed the pledge. Jim Kolbe (R., Ariz.). be eliminated. Now, the wealthy would get The White House must persuade at least 14 Jon Kyl <R.. Ariz.). the low tax rate and tax shelters. House Republicans to break a sworn prom­ Bob Lagomarsino <R., Calif.). The $12 billion cost is merely the official ise or risk defeat of the agreement. Norm Lent (R., N.Y.). estimate: once tax lawyers and accountants Grover Norquist, the head of Americans Jerry Lewis <R., Calif.). go to work on such goodies as a 25 percent for Tax Reform, says that everyone who Jim Lightfoot (R., Iowa). deduction of the cost of stock in one of the signed the pledge was told at the time that Bob Livingston (R., La.). qualified sm211 companies, that figuJ.t is they would be held to it. "Any politician Bill Lowery <R., Calif.). likely to soar. who took the pledge and votes for the Buz Lukens <R., Ohio). The Bush team appears to have put one present budget package was elected on a Ron Marlenee <R., Mont.). over on the Democrats, selling the new tax­ falsehood," he says. "We will hand their op­ Lynn Martin (R., Ill.). shelter provisions at the eleventh hour, os­ ponents their signed pledges so that the Al McCandless CR., Calif.). tensibly to provide "new incentives to stimu- e This "bullet" symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor. October 3, 1990 EXTENSIONS OF REMARKS 27397 late economic growth." Billed as a consola­ harder to see real differences between them 75, Hillsdale is often dismissed by its larger tion prize for Bush, who gave up his vaunt­ and moderate Republicans such as George brethren as insignificant. We suspect their ed capital-gains tax-cut proposal, the new Bush, Bob Dole and Minority Leader Robert real beef is that Hillsdale's president, plan in some ways is worse than preferential Michel. George Roche, makes no effort to mask his rates for capital gains. conservative values at a time when liberal­ A capital gains tax cut would primarily ism is the nearly universal dogma on the na­ benefit the rich but also provide some bene­ tion's campuses. Mr. Roche doesn't impose fits to lower-income persons. The new tax THE LAST BASTION OF his own conservatism on faculty and stu­ shelter for stock purchases benefits only the CONSERVATISM dents, but he does insist that students be of­ rich, who can put up big chunks of money fered a balanced curriculum. Not surprising­ to reap an immediate tax credit. ly, many Michigan parents find that an at­ It is nonsense to suggest, as did The New HON. PHILIP M. CRANE tract.ive notion. York Times, that "this year's ugly compro­ OF ILLINOIS It's interesting to note that the University mise is acceptable ony if Congress rights the IN THE HOUSE OF REPRESENTATIVES of Michigan is considering a $650-800 mil­ wrongs next year." The time to repair the damage of the tax-shelter gimmick is now, Wednesday, October 3, 1990 lion fund-raising campaign in the mid-1990s. before it gets written into law. Officials say their aim would be to reduce Even then, the budget compromise won't Mr. CRANE. Mr. Speaker, lately, an increas­ U-M's dependence on state funding. It's a be a thing of beauty.
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