Rich Neal: “Let me say at the outset, this is a Member on the Democratic side who favored a targeted capital gains package, who has…”

“Let me say at the outset, this is a Member on the Democratic side who favored a targeted capital gains package, who has been the author with the gentleman from California [Mr. Thomas] of the Individual Retirement Account, its tax advantage restoration, and who favors the idea of allowing seniors to earn and keep more despite Social Security obligations. Most of the Members on this side would have voted for those provisions tonight if it was not an all-or-nothing package. But let me get to the point at hand. The favorite refrain heard on this side of the aisle these days is this: I did not write the contract. The second most well-heard refrain on this side of the aisle these days is, 'The Senate will correct it.' Let me say tonight, there are 133,000 students in Massachusetts, and I represent an area with some of the finest colleges in America who are going to begin to pay a lot more at the end of this contractual day for their student loans when this House gets done. We had an opportunity in this House to find middle ground on most of these issues where most of the Members on both sides rest. Don't heed my warning tonight. Heed the warning of George Bush who called it voodoo economics. And heed the warning of David Stockman who said it was the triumph of politics.”