Date: 2015-03-25
Speaker: VAN HOLLEN (democrat)
Chamber: H

Mr. Chairman. I yield myself the balance of my time. As I said in my comments earlier. this budget suffers from all of the problems that the earlier Republican budget suffered from. but it does have one redeeming quality. which is that it does not use the overseas contingency account as a slush fund. It actually funds defense in a straightforward manner. In listening to the advocates of this budget. I thought maybe their accounting had been more sound on other fronts. but as I look at itI look at the Republican budget and how much revenue it raises over 10 years. and I look at the Republican study groups budget. which has the identical amount of revenue over 10 yearswhat that means is that we see the same budget quackery in claiming to balance because that revenue includes revenue from the Affordable Care Act. almost $1 trillion worth. It includes the savings from the Affordable Care Act. which both Republican budgets claim to repeal. You know what it doesnt include? It does not include the costs of all the tax bills that are coming out of the Committee on Ways and Means. including one being marked up today which would entirely get rid of the estate tax. meaning that it will benefit 5.500 people in this country at the cost of $269 billion a year. Seventyfive percent of this tax break is going to go to the inheritors of estates valued at more than $20 million. You add that to this budget. and it is even more out of balance. But it does point to the underlying theme in all the Republican budgets. which is lets give another tax break to the very wealthiest in this country. right? Lets cut the top rate for millionaires while we squeeze middle class families and those working their way into the middle class. They are going to increase the tax burden on them. The chairman of the committee. I think he went to Emory University. I think they have got about 5.500 students. maybe a little bit more undergraduate. This would provide almost $269 billion to a population of 5.500 households in the countrythe folks at the very topwhile they are cutting our investment in our kids education dramatically. while they are cutting our investment in innovation and research that has helped power our economy. while they are devolving most of our transportation system away from the Federal Government. even though our Federal transportation system has helped power our economy and make us competitive in this very competitive world. So from the budget gimmicks that apparently are the same in both budgets to the fact that both budgets say to folks at the very top: You know what? We are going to give you another tax break while we squeeze everybody else in America. right? They increase the costs of student loans. You have got over a trillion dollars in student debt. Why would we be increasing the cost of student loans? They are going to start charging students interest while they are in college. They are going to require seniors on Medicare to immediately pay more for prescription drugs by reopening the doughnut hole. So hardworking families. students trying to go to college. seniors who are trying to have a secure retirement. they all get hit on the same day that they provide a huge tax break to 5.500 people. That says it all about what both these Republican budgets do. They disinvest in our future. they squeeze hardworking families. students. and seniors. while saying to the folks who are already at the top of the ladder: We are going to give you just one more break. And go ahead and pull up that ladder of opportunity behind you. it doesnt matter. We are going to leave everybody else behind. That is not what America stands for. I thought this was the land of opportunity. But while they cut our investment in education. they dont cut a single tax break for the purpose of reducing the deficit. and then they go and claim a balance that is phony. Mr. Chairman. I ask everyone to reject both these Republican budgets. They are wrong for the country. I yield back the balance of my time.