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Kent Conrad is a former United States Senator from North Dakota, serving from 1993 to 2013. A member of the Democratic Party, he was known for his work on fiscal policy and budget issues, particularly as the Chairman of the Senate Budget Committee. Throughout his tenure, Conrad advocated for responsible budgeting and was involved in discussions surrounding Social Security and healthcare reform. He played a significant role in shaping policies that impacted both North Dakota and the nation as a whole.
The decision, it is fair to say, was a collective decision and probably was the wisest course given the circumstances we faced at the time. We could ask the 41 who voted against the 2-year budget: Why did they fail to vote for what was a…
That is correct. If this were in dollar terms, I could not put it on a chart. The sea of red ink that would follow would not fit on any chart that I am allowed to use on the Senate floor.
Yes, $984 billion. The previous record increase was under the previous President Bush, November of 1990, when they got a $915 billion increase in the debt limit. As you know, the House has different rules than the Senate. We will not…
Yes. We now estimate the budget deficit, under this budget resolution, will be between $500 and $600 billion for this year alone on a $2.2 trillion budget. Some have said these deficits are small. There is nothing small about them. They…
The tax cut that is in this resolution, $1.3 trillion, has an additional cost, the associated interest cost, because this is all borrowed money. That would be another about $300 billion. So the total cost goes to $1.6 trillion--truly…
So there are no new discretionary funds available through this amendment. With that understanding, there is no objection on this side to the Senator's amendment. He is quite correct that impact aid is underfunded, and it is important to…
Maybe my ears deceived me. I heard the Senator say $112 billion. My reading on the amendment is $112 million.
I wish to say we, too, believe this has been a productive day. This is the way this Senate ought to operate. It was well organized, and I thank the chairman for his contribution to that organization and to the tone that was evidenced…
Let us be clear, the budget resolution does not make the determination for the Finance Committee on how this additional tax cut will be used. This amendment is very simple. It increases the tax cut by $146 billion. It does absolutely…
Let me add my voice in commendation of Lloyd Ogilvie. He has been superb as the religious leader of this body. Several years ago, my chief of staff died suddenly and unexpectedly. I called Dr. Ogilvie on very short notice and asked him to…
Let me just say the text of the analysis from Macroeconomic Advisers makes clear they believe the long-term impact is negative. Because of the crowding-out effect, because it is borrowed money, it is because that reduces the pool of…
Could I just say on that point, you have to read very carefully what Chairman Greenspan said. He said the dividend proposal, as long as it is revenue neutral--not financed by borrowing--is good for the economy. If it is financed by…
If I could inquire of the Senator, if the additional proposed tax increase by the President were added to that chart, can the Senator tell us then what one would see in terms of the calculation of the disappearance of the surplus and what…
I deeply regret the decision was not made to spend this day discussing the war. I find it very difficult to understand, as much as I value the budget and the budget process, after spending my entire time in the Senate on the Budget…
The Senator yesterday said he took it from the Finance Committee jurisdiction for mandatory spending. That is what the record shows. That is where it comes from.
Bill Guy was a very close friend of my family and somebody who has been a mentor to me in public service. Bill Guy was a balanced budget Democrat. He believed in balanced budgets and he believed in fiscal responsibility. He was proud to…
I think it is absolutely bizarre that we have the budget before us and we have nothing to pay for the war in that budget. The reason given was that operations had not commenced. Well, operations have commenced. And not to set aside funds…
I would certainly be open to an adjustment of that rate as well in order to try to arrive at a conclusion that was equitable and that is not as costly as full repeal.
It is to have a reform of estate tax. Instead of the $1 million exemption currently, to go to $3 million for an individual, $6 million for a couple. In this calculation, it costs $33 billion.
That is the case. In fact, there is no death tax in America. That is a good rhetorical line, but there is no tax at death in America. Only 2 percent of estates currently are taxed, and they are taxed because they have amounts of value in…
I hope that would be the case if we find ourselves at war, that there would be an ample opportunity for Senators to address that. My own belief is that would be appropriate for the Senate to do, to turn its attention to a state of war. My…
I don't know, honestly, what amendment our chairman is looking at, but it is not mine. I don't have spending in the amendment. I have not provided for the Democratic leader's plan--I have not. In the amendment the chairman is discussing, I…
We are now on my second amendment, an amendment that takes $1.2 trillion of the proposed tax cut and uses it to strengthen Social Security. It is absolutely correct that the other amendment I have offered would create a requirement to a…
No. In fact, the plan I have endorsed would expand expensing for small business. I think that is a better course and would be a real stimulus. We should aggressively have a plan of small business expensing, expanding small business…
Part of the plan that I have endorsed would include enhanced depreciation for small business.
Politicians like Kent Conrad
