3 months ago today, as we all know, was September 11. That afternoon, gas stations, some number of gas stations all over the country raised their prices to $4 and $5 and $6 a gallon. We all remember that. Most of us would call that war profiteering. However, others around the country, the great, great majority of people in this country, came together. They put out their flags, they gave blood, they volunteered, some went to New York to volunteer, went to the Pentagon to volunteer, and schoolchildren all over the country collected pennies, nickels, and dimes to send to the victims and their families. But something else emerged in Washington, not war profiteering in the simple sense of raising gas prices, but a more sophisticated kind of political profiteering: this Congress, pushed by the President and the Republican leadership in this Congress, first of all gave a huge multi-billion dollar bailout to the airlines, requiring nothing from the airline executives, requiring nothing for airport security, requiring nothing of airline safety. Then this Congress turned around and gave tax cuts for the largest corporations in the country: a check, a tax refund to IBM, a check from the Federal Government for $1.4 billion; $1 billion to Ford; $900 million to GM, and the list went on and on and on.…
On the recordDecember 11, 2001
Source
govinfo.govEditor's note · Context
Discussing the aftermath of September 11 and the response of Congress regarding corporate bailouts and tax cuts.
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