On the recordMay 20, 1997
I rise tonight to oppose House Concurrent Resolution 84, the so-called bipartisan budget resolution agreement. This budget resolution fails to adequately protect millions of disenfranchised and disadvantaged Americans, both those who are unemployed, and those who work, but cannot rise out of poverty. I cannot support a budget resolution that calls for tax cuts of $85 billion that include cuts in capital gains and estate tax relief that will benefit the richest 5 percent of our country. Speaker Newt Gingrich has made it clear that this budget is another step in the Contract on America--which is a Contract on Poor People. According to the New York Times, which obtained a copy of a May 16 memo from Mr. Gingrich to Republicans, Speaker, Gingrich makes it clear that the Republican's top priority is giving tax breaks to the rich. And the Speaker minces no words in saying that 'there is no limit on the size of the capital gains and estate tax relief' in the budget resolution. I cannot support this budget when unemployment in some communities in the First District of Illinois exceed 20 percent, especially for African-American youth. Instead, I am proud tonight to support the Congressional Black Caucus budget. This budget is truly a budget for the people.
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