My colleagues, I stand with President Bush. President Bush has called on this House of Representatives to pass the legislation that has already been approved by the House Committee on Ways and Means. President Bush has called on this House of Representatives to pass the Economic Security and Recovery Act, and I join with President Bush in support of that legislation and oppose the partisan Democrat substitute. We hear a lot of partisan political rhetoric in opposition to the plan that was approved by the Committee on Ways and Means, but here is what we do not hear. The basic component of the Democratic so-called stimulus plan is a $90 billion tax increase. I will say that again. A $90 billion tax increase. Now, many of us have consulted economists, and I know of not one respected economist that has called on Congress in this time of great economic concern to say that we can help the economy by increasing taxes. But that is what the Democrats do. They say it is paid for. They pay for it with a $90 billion tax increase. What economists have told us, both Democrats and Republicans, is that we need to encourage investment and we need to put more money in the pockets of consumers so they can spend it. The legislation already approved by the Committee on Ways and Means, legislation we are going to vote on today, accomplishes that goal.
Editor's note · Context
Addressing the Economic Security and Recovery Act and opposing the Democratic substitute during a House debate.
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