Jerry Moran: “this is not a good tax-cut bill. In fact, there are two tax shelters within it which will make all the other tax…”

“this is not a good tax-cut bill. In fact, there are two tax shelters within it which will make all the other tax shelters even enacted by this body pale by comparison, with regard to the abuse that they will enable people to take advantage of. But the worst part of this, of what we are to do today, is not even the bill, it is the rule. We are going to consider legislation which was rejected by the committee of jurisdiction, and under the guise of tax fairness, and not breaking contracts, we are going to increase taxes on each Federal employee by an average of $4,525, to provide a tax cut of about $1,000 to the average American. And talk about breaking contracts, when each Federal employee had to decide how to provide for the retirement security of their wives and children, we told them we would never break this retirement contract, and today we are going to break it. We are going to require them to lose retirement benefits, and to increase their retirement contribution by 313 percent. This day will go down in infamy if we pass this bill, and particularly if we do not reject this rule.”