I have tremendous respect and admiration for my friend from Tennessee. I do. I think he is a fine man, and we have passed some good legislation together. So I understand the negotiators are doing their negotiating, but we might be able to help. Again, I repeat my offer: Will my colleague--just he and I can agree. That might break the ice. We will give tax breaks to everyone--Bush tax cuts--below $1 million. We will continue their capital gains rates at the same rate, we will continue their dividend rates at the same rate but not the people above $1 million because, as I mentioned, their incomes are doing fine. Most economists will tell you it is a highly inefficient way to get jobs or money flowing into the economy. Unemployment insurance, which my colleagues insist be paid for, is much better. Let just he and I agree that that is a good idea, a good starting point. Will he?
Editor's note · Context
Schumer discusses potential tax breaks and unemployment insurance in negotiations.
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