Political Quotes

“I agree at least in part with the gentleman from Washington (Mr. McDermott). I think we should be doing more for low-income workers, and we need to improve, not only extend, the low-income credit for workers, but it is going to take some more hearings and some more work. We have 5 years to get that into place. But let me just disagree with the numbers of the gentleman from Washington (Mr. McDermott). This is both in the underlying bill and in the Democratic substitute which deals with increasing the amount of money that individuals can put in their IRAs and 401(k)s. More than 69 percent of those people contributing to traditional IRAs contribute the full $2,000, and 61 percent of those have incomes under $50,000. Over half the cost of the bill is in the IRAs. The gentleman's numbers do not add up. The underlying bill helps the average worker. It does not help the individuals the gentleman is referring to. This is a good bill, and I urge Members to support it.”