J. Exon: “The Senator, certainly as a member of the Budget Committee, knows full well what I am talking about with regard to…”

“The Senator, certainly as a member of the Budget Committee, knows full well what I am talking about with regard to corporate welfare. These are moves that we have made over the years that have been prominently under discussion for the last year with regard to the budget negotiations between the Congress and the White House. If the Senator will refer to the material that I think he now has, page 3 of this year's Republican budget resolution states that in addition to the child tax credit, and I quote, ``The committee recommendation would accommodate further tax reform or tax reductions to be offset by the extension of expired tax provisions of corporate and business tax reform.'' It continues, ``Such receipts could be used to offset other tax reform proposals such as estate tax reform, economic growth, fuel excise taxes or other policies on a deficit-neutral basis.'' To outline this further, last year's vetoed reconciliation bill, supported by virtually every Senate Republican, included approximately $26 billion in revenue increases for corporate and other reforms. That is what I am talking about. President Clinton has proposed nearly $40 billion in corporate reforms in his balanced budget submission to the Congress. Although the proposals are not identical, Republicans and Democrats agree that revenue can be raised from this category which is customarily referred to, as I think the Senator from Missouri knows, as corporate welfare.”