Dianne Feinstein: “I join Senator Biden in support of this amendment to pay for the President's request for an additional $25 billion to…”

“I join Senator Biden in support of this amendment to pay for the President's request for an additional $25 billion to fund the war in Iraq. This amendment will temporarily roll back the acceleration of the President's May 2003 tax cuts for those making more than $319,000 per year by raising the income tax rate from 35 percent to 36 percent for 5 years, 2005-2009. Assuming passage of this supplemental funding request, the Iraq war will have cost the American people more than $175 billion. And without this amendment, every penny of this $25 billion supplemental request will be borrowed, becoming another debt we will leave to our children and grandchildren. This amendment, however, offers a very reasonable way to pay for this stage of the war on terror. By rolling back the acceleration of the May 2003 tax cut just enough to fund the $25 billion request before us, we will reduce the already serious debt burden on our Nation. We are offering this amendment because it is essential that we begin paying for the programs that we propose. It is important for the public to know that they--along with our soldiers--must also sacrifice during this war on terror. Except to tell us that we should visit our shopping malls more frequently, the President has shown little leadership in asking citizens to give to this war effort.”