On the recordMay 20, 2010
Today I introduced H.R. 5353, the War is Making You Poor Act. The War is Making You Poor Act does three things: First, it requires the administration to carry out the wars in Iraq and Afghanistan with only--only--the $549 billion set forth in the President's budget for defense spending, without the additional $159 billion the President has asked for for the sake of the so-called emergency war, which now stretches on to 9 years in one case and 7 years in the other. My view is that $549 billion is enough for these wars or any other wars the President plans to engage in. What this does, secondly, is that it takes the money that is saved from the war separate allocation and it uses that for a very important purpose with our economy the way it is and people in America suffering. It takes that money--or 90 percent of it--and it uses that to make $35,000 of everyone's income in America tax-free. And $70,000 for married couples. Let's be clear about that. Let's be clear about what I said. With the money that is being saved by the War is Making You Poor Act, we can make $35,000 of every American's income tax-free. And $70,000 for married couples. And in addition to that, it takes the remaining money and reduces the Federal deficit and the Federal debt. I think those are three things, all of which need to be done. This bill brings them all together.
