Jeff Bingaman: “I agree with Senator Kennedy from Massachusetts that this is a simple choice we have to make. Is there going to be a…”

“I agree with Senator Kennedy from Massachusetts that this is a simple choice we have to make. Is there going to be a reduction in the amount of the tax cut? The proposed tax cut is the largest on the Senate floor with which I am familiar. And the proposal is to reduce that tax cut by about 15 percent and commit 15 percent of those revenues to improvements in education. The argument is that the underlying budget resolution has $1 billion for IDEA, which we support. Our amendment has that, too. There is no difference on that issue. The argument is that their budget resolution asks for more than the President's proposal. The truth is, their budget resolution says that of the increase in education, $2.3 billion of it needs to be spent on a so-called performance bonus fund. It is committed to that. It is dedicated to that. It can't be spent for 5 years. So no school is going to see any benefit from that. If you take that out, there is a cut in education in the budget resolution on which we are voting. Our amendment tries to restore those funds and get the funds up to the level in the programs that have been proven to work, programs that matter to people all over this country.”