Russ Feingold: “What is ironic, Mr. President, is that here we have now, again, the majority of the Republican Party in the U.S.…”

“What is ironic, Mr. President, is that here we have now, again, the majority of the Republican Party in the U.S. Senate--as well as the other body--and they are doing just the reverse. There was a book written about the success of the 1986 bill called ``Showdown at Gucci Gulch.'' Gucci Gulch, of course, is where all the lobbyists were with their Gucci shoes, and it was a Republican, the Senator from Oregon, who I believe chaired that famous meeting. Tax loopholes were limited. Here we are, again, many years later with just the reverse happening: The restoration of some of these special deals at a time when the deficit is far worse than it was in 1986.”