I want to point out a couple of things. Number one, this legislation comes to you with bipartisan support from the Financial Services Committee. There was a recognition on that committee between the members on the majority and the members on the minority that this Congress had an opportunity to do something concrete, something practical, to help the most impoverished countries in this world. This legislation is practical. It is going to give relief that translates into higher literacy rates, lower infant mortality rates and better access to education, and it is done at very modest expense to the American taxpayer. It also is America working with other countries and with international institutions, the IMF and the World Bank, to have a positive influence in foreign policy. It makes sense. It is bipartisan. It should be done. I have to say I disagree with the suggestion of my good friend from Texas that we essentially transform this into a debate about extending the Bush tax cuts. That is a refrain we are hearing constantly that is brought up as a way of taking attention off of the things that we can do immediately in the legislation that is before us. The fact of the matter is that what we have seen in the past few years under the fiscal leadership of the Bush administration is we have gone from a record surplus to a record deficit. We have gone from a point of paying down our national debt to increasing it to close to $7 trillion.
On the recordApril 16, 2008
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govinfo.govEditor's note · Context
Discussing bipartisan legislation aimed at aiding impoverished countries.
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