E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 112 CONGRESS, SECOND SESSION Vol. 158 WASHINGTON, MONDAY, APRIL 16, 2012 No. 54 Senate The Senate met at 2 p.m. and was COONS, a Senator from the State of Dela- lower tax rate than millions of middle- called to order by the Honorable CHRIS- ware, to perform the duties of the Chair. class families. That is also not fair. TOPHER A. COONS, a Senator from the DANIEL K. INOUYE, That is how someone like our friend State of Delaware. President pro tempore. Warren Buffett winds up paying a Mr. COONS thereupon assumed the lower tax rate than his secretary, PRAYER chair as Acting President pro tempore. which also is not fair. The Chaplain, Dr. Barry C. Black, of- f When the richest few are making fered the following prayer: more than ever before, they can afford RECOGNITION OF THE MAJORITY to shoulder their fair share of the bur- Let us pray. LEADER God of might and mercy, we lift our den and make this country prosper. And they should not be allowed to hide hearts in praise. Thank You for this The ACTING PRESIDENT pro tem- behind tax loopholes that rig the sys- day with its opportunity for coura- pore. The majority leader is recog- tem in their favor. The Paying a Fair geous and noble service. Use our law- nized. Share Act, known as the Buffett rule, makers this day to validate the faith of f would restore fairness to a system that our forebears through their faithful BUFFETT RULE has favored the interests of the service to You and country. As they Mr. REID. Mr. President, as millions wealthy for far too long. This legisla- labor, may they feel the nearness of tion would ensure that Americans who Your presence and be guided by Your of Americans prepare to file income tax returns, the Senate will consider earn more than $1 million a year pay at wisdom. Equip them to bear the re- least 30 percent of their income in sponsibilities they cannot assign to one of the basic unfair provisions in the Tax Code. Today the wealthiest 1 taxes. The bill would hold harmless others as You strengthen them for nearly every small business in Amer- life’s noble twists and turns. percent takes home the highest share of the Nation’s income since the early ica. In fact, more than 99 percent of Lord, draw near to them and give small businesses would be held harm- twenties, the Roaring Twenties. But them Your peace. less. It would maintain the deduction while their bank accounts have grown, We pray in Your merciful Name. for charitable giving. It would be a their tax bills have become smaller. Amen. small but important step toward re- The wealthiest Americans now pay the f storing fiscal responsibility as our Na- lowest tax rate in more than five dec- tion makes difficult choices about PLEDGE OF ALLEGIANCE ades. The rich pay less than they have where to spend and what to cut. for more than 50 years. This unfair sys- The Honorable CHRISTOPHER A. COONS Three-quarters of Americans believe tem has turned a gap between the rich- led the Pledge of Allegiance, as follows: millionaires and billionaires should est few and everyone else into a gulf, I pledge allegiance to the Flag of the contribute more. Two-thirds of mil- not a gap. Over the last few decades, a lionaires say it is time to even the United States of America, and to the Repub- small number of Americans have seen lic for which it stands, one nation under God, playing field. Yet, everywhere, all Re- indivisible, with liberty and justice for all. their incomes skyrocket by almost 300 publicans except those within the belt- percent, but for the rest of Americans way believe that is not the case. Re- f wages have barely moved. They have publicans in Congress would rather end APPOINTMENT OF ACTING not kept pace with the price of a mod- Medicare as we know it, set forth in PRESIDENT PRO TEMPORE est home, college, or, of course, a se- the so-called infamous Ryan budget. cure retirement. They would rather slash education The PRESIDING OFFICER. The Times are tough for many middle- clerk will please read a communication funding, as set forth in that same infa- class American families, but million- mous budget, than ask the richest of to the Senate from the President pro aires and billionaires are not sharing the rich to contribute even a penny to tempore (Mr. INOUYE). the pain or the sacrifices—not one bit. make education more meaningful and The legislative clerk read the fol- Last year there were 7,000 millionaires to continue maintaining Medicare as lowing letter: who did not pay a single penny in Fed- we know it. As the Senate Democrats U.S. SENATE, eral income taxes. Seven thousand mil- work to make our tax system fair for PRESIDENT PRO TEMPORE, lionaires did not pay a single penny in Washington, DC, April 16, 2012. all Americans, Republicans in the To the Senate: taxes. Instead, ordinary Americans House continue to pursue a budget that Under the provisions of rule I, paragraph 3, footed the bill. That is not fair. In re- would hand more tax breaks to the of the Standing Rules of the Senate, I hereby cent years some Americans earning wealthiest few—the so-called Ryan appoint the Honorable CHRISTOPHER A. north of $110 million a year paid a budget I was just talking about. ∑ This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. S2287 . VerDate Mar 15 2010 00:23 Apr 17, 2012 Jkt 019060 PO 00000 Frm 00001 Fmt 4624 Sfmt 0634 E:\CR\FM\A16AP6.000 S16APPT1 tjames on DSK6SPTVN1PROD with SENATE S2288 CONGRESSIONAL RECORD — SENATE April 16, 2012 At its heart, this important debate BUFFETT RULE a-gallon gasoline and said: Let’s go and the Buffett rule are about setting Mr. MCCONNELL. Mr. President, if with a poll-tested tax on energy manu- priorities. America can build a world- there is one thing on which every facturers, which would increase the class education system that will pre- American can agree right now it is price at the pump instead of actually pare our children and our grand- that we have serious challenges in this doing something to solve the problem. children to compete in the industries of country and that time is not on our Is this not precisely the kind of thing tomorrow. We can honor our commit- side. Action needs to be taken soon. To President Obama campaigned against ment to a generation of young men and cite a few things, everybody is holding in the first place—politics as usual? women who put their lives on the line their breath waiting for the Federal But that is all we get. The worse our to serve and protect our freedom, and debt to catch up with us. It is not a problems get, the less serious he be- we can ensure that seniors who worked question of if, it is a question of when. comes. The more people coalesce hard all their lives look forward to a Many young people are basically giving around a bipartisan solution, the more secure retirement and quality, afford- up on the American dream. Seniors and he focuses on something that is com- able health care or we can keep pro- those approaching retirement are con- pletely irrelevant or that has abso- tecting special tax rates for the richest cerned about the safety and sustain- lutely no chance of passing. of the rich. We cannot do both. We ability of entitlements. Working Amer- We are in a crisis here and, sadly, it must make smart choices. icans and those who employ them are is all politics all the time. Somewhere President Franklin Roosevelt once frustrated by the growth and the reach along the way this President seems to said: of government. And nearly 14 million have forgotten why he was elected. For In our personal ambitions we are individ- Americans who cannot find work are him, it is not about jobs or the econ- ualists. But in our seeking for economic and wondering how it got so hard to land a omy, it is about his idea of fairness, political progress as a nation, we all go up or good-paying job in what is supposed to about imposing it on others. And if we else all go down as one people. be the most prosperous economy on lose more jobs in the process, oh, well, I hope my Republican colleagues will Earth. All these people know we are in so be it. join Democrats this evening as we rough shape. They live it every day Just take the Buffett tax. Anytime choose a path toward economic fairness and, frankly, a lot of them have given the President proposed anything in the that allows all Americans to rise to- up hope that lawmakers here in Wash- past, he told us how many jobs it would gether as one people. ington are interested in doing anything create, whether it was the FAA bill, f at all that would help. the highway bill, the stimulus—you But the truth is that there is some name it. Apparently, those days are MEASURE PLACED ON THE good news to report out of Washington; over.