Jon S. Corzine: “As my colleagues just heard, this motion would commit the bill to the Finance Committee and direct it to report back…”

“As my colleagues just heard, this motion would commit the bill to the Finance Committee and direct it to report back promptly with an amendment that eliminates an income tax for those earning more than $500,000 a year, and use those savings to establish a tax credit to help families afford the cost of long-term care. Before I explain the need for my motion, let me first commend Senators Grassley and Graham of Florida, who have provided true leadership on a critical issue for seniors across America, the issue of long-term care. This motion does not require adoption of their specific approach, though I am proud to support their bill which would provide a $3,000 tax credit for long-term care expenses. Now is the time to address America's long-term health care needs, before we approve one of the largest, and I believe one of the most inequitable, tax cuts that we could bring before the country, a tax cut that would undermine the largest surplus ever and prevent us from meeting critical health care needs, particularly for our seniors. Over 12 million seniors and disabled Americans need long-term care, and as many as twice that number may need it as the population ages, as the baby boomers retire. Families who are primary caregivers pay a tremendous price for this care. I believe no one should have to go bankrupt or stress their budgets to afford long-term care and no family should bear the burden alone. Long-term care should not be just a privilege for the wealthy.”