Mr. President, we come to the floor today to talk about the sequestration and the looming fiscal cliff. Unfortunately, the White House missed an important deadline last week by failing to provide Congress and the American people with a…

Mr. President, I ask unanimous consent to enter into a colloquy with my colleagues from Arizona, Alabama and New Hampshire. The ACTING PRESIDENT pro tempore. Without objection, it is so ordered. SEQUESTRATION

I know it is very confusing, and I thank my colleague from North Dakota for yielding to his colleague from the South. I hoped to come down and to ask unanimous consent to pass S. 1956 with a committee-reported amendment. My understanding…

If I might say to my colleague from Mississippi and to the Senator from Indiana, to put this into perspective, the proposal in the Democratic bill, which would take the exemption back down to $1 million and raise the top rate to 55…

I thank the Senator from Kansas. I too look forward to working with him on fundamental tax reform, because that is what we need to do to get the economy turning around. I think you will see tremendous economic growth. I think you would see…

Mr. President, if I might respond to my colleagues from Mississippi and from Indiana, the Senator from Mississippi is absolutely right. The proposal we will vote on as presented by the Democrats today would allow the death tax exemption to…

I appreciate the remarks of my colleague from North Dakota who understands this issue very well, representing a State that is composed largely of family farms and ranches and small businesses. It is similar to my State of South Dakota…

Mr. President, I first want to thank the Senator from Indiana for his very astute observations about the impact of these taxes on hard-working men and women in this country. I would say to my colleague from North Dakota, who is now here…

Mr. President, I ask unanimous consent that I be able to enter into a colloquy with my colleagues for the remainder of that time. The PRESIDING OFFICER. Without objection, it is so ordered.

Mr. President, I think we have about one-half hour left; is that correct? The PRESIDING OFFICER. The Senator is correct.

Mr. President, I rise today to talk about the need to extend the current tax rates and to reject the tens of billions of dollars in higher taxes the President and Senate Democrats want to impose next year. I believe the upcoming vote or…

I think the Budget Control Act, which passed last summer, created this process, and led us to sequestration, which is where we are today. This is a function and a clear outcome of having not passed a budget. It is ironic in many respects…