Mr. Speaker, I yield myself such time as I may consume, as long as it does not exceed 20 minutes. Mr. Speaker, the gentleman from Texas spoke boldly and correctly. If I could get a copy of his…
Mr. Speaker, I yield myself such time as I may consume, as long as it does not exceed 20 minutes.
Mr. Speaker, the gentleman from Texas spoke boldly and correctly. If I could get a copy of his speech, as I will, I think I will use it myself.
He covered all the issues that I would want to cover in talking about the United States Air Force as a representative of two very important Air Force bases, Travis Air Force Base in Fairfield-Vacaville, California, and Beale Air Force Base just outside of Marysville, California.
I found myself not only in sympathy and empathy, but also marching right alongside the gentleman from Texas as he eloquently spoke about the role of the Air Force and the necessity of Congress to provide the adequate funding for not only repairing and maintaining the existing aircraft and bases, but also to expand and improve.
Certainly, I am looking forward to the arrival of the KC-46s to Travis Air Force Base. If Boeing will get that done, we will get on with it.
However, I want to remind my colleagues on the other side of the aisle that funding for the military is ultimately dependent upon the revenues of the Federal Government, which are dependent upon the health of the economy. Those things go together.
My esteemed colleague from Wyoming, in her remarks on the previous bill, addressed the issue of how we tax and who we tax or whether we tax. An interesting point was raised about this and whether it is possible to tax too low.
A situation has arisen in the State of Oklahoma, where they thought they could cut taxes continually and everything would grow, and there would be great opportunities. Well, the opportunity turned out for the highway patrolmen to buy their own gas, and for schools to go to 4- and even 3-day sessions, because there was no money.
So my point is this, that we have to balance things here. I raise this issue in the context of the appropriate desire of my colleagues to adequately fund the military, because I read in the newspaper yesterday and again today that my colleagues intend to go to tax cut 2.0. Very interesting.
In the face of a trillion-dollar deficit in the 2018-2019 fiscal year, we would do another massive tax cut in hopes that the situation would be such for the revenues of the Federal Government that we could fund everything that the military wants and whatever other needs we decide must be funded.
Well, let's see. We just borrowed, or are about to borrow, $12 billion from China to pay American farmers for their losses resulting from a trade war with China in which China was supposed to somehow grow our economy by not shipping as much to America.
That is convoluted, but it is what we are going to have to do if we cut taxes again. We are going to have to grow the Chinese economy, so we can borrow money from China, and then import from them.
I guess this makes sense to some, but I think we best be very careful here.
Mr. Speaker, I guess some people would say that I am off subject matter here, because we are really talking about fully funding the needs, in this piece of legislation, of the United States Air Force, and we should do so. However, at the same time, we must consider the revenue sources for the Federal Government, and we did.
In December 2017, the 435 of us who are selected by the 350 million Americans to represent them, a decision was made amongst us to slash the revenue of the Federal Government by more than $1.5 trillion over the next decade.
Now, my colleagues on the Democratic side didn't vote for that, but, apparently, the deficit hawks migrate out of Washington, D.C., in the winter. I suspect they are coming back--not ``suspect,'' they are actually back. The Speaker of the House tells us that we must cut Medicaid, Medicare, and Social Security in order to deal with the deficit that was created by the tax bill. Well, we shall see.
How are we going to adequately fund the military in the face of last December's tax cut, which I will remind folks, if they care to be reminded, that the beneficiaries were principally the great American corporations that were doing quite well, profitably, prior to the tax cut, and that somehow promised that they would bring jobs home, which they have not. Well, we shall see.
It takes $1.5 trillion out of the Treasury, and my esteemed colleague from Wyoming said: Look how successful Oklahoma was.
Well, I don't think she said that. But as she was talking about tax cuts, it came to mind that we ought to think about Oklahoma and what happens when the government doesn't have the revenue it needs to do the things that it must do.
Now, maybe you want to argue that the government must not provide funding for Social Security. Maybe you would want to argue that the government must not provide money for Medicaid, of which some 60 to 70 percent of the recipients are elderly people in nursing homes. Maybe we ought not do that. Or maybe you would want to argue that the Medicare program for seniors should be slashed and cut.
Those are all suggestions that the Speaker of the House of Representatives has made. I disagree.
How do we fund the programs that Americans need? Surely, they want a strong Air Force, as I do. And I suspect they would also want to see that those seniors in nursing homes are cared for, and those who are on Medicare are able to get their drugs and their care, and that the Social Security checks not be slashed and reduced. We shall see.
In any case, I support the resolution, and I think we ought to fully fund the Air Force.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, may I inquire how much time I have remaining.
Mr. Speaker, if you are a person who wants to cut taxes and borrow money from China, then you can keep the economy going. In fact, the job growth has been basically steady for the last 8 years. It has been in the last year, also, and most of this year, and we are thankful for that.
Nonetheless, we have a very serious deficit. The CBO estimate that was quoted a moment ago actually took place prior to the tax cut. More recent estimates indicate that the deficit is larger than anticipated and that the growth rate has not expanded to the point that was anticipated and that the deficits that are going to be there are very real. All of that is true.
While there have been increases in wages, some 2 percent over the last year, almost 18 months now--and we are grateful for that--those wages are less than the inflation rate; and, therefore, for those working men and women across the Nation who have received an average of 2 percent or so of wage growth, it has been eaten up by inflation.
The point here is one of this resolution reminding us that we have a very important obligation to adequately fund, in this case, the Air Force; in the previous piece of legislation, special operations. Indeed, we do have that obligation. But at the same time, we need to have a fiscally sound government.
Unfortunately, what happened last December was to pull the foundation of fiscal soundness out from beneath the government's revenue stream.
Now, there is a necessity for some adjustment in the taxes, and you will get no debate on our side of the aisle about the necessity to do that. It would have been our choice, had we the majority, to reduce taxes far more than the tax bill did for the working men and women and for the smaller businesses in America, and not for the wealthy corporations that were doing quite well, and certainly not to create an international Tax Code that continues to encourage the offshoring of American jobs.
That simply happened because the reduction in the corporate tax rate for America went to 20 percent, while those American corporations operating offshore could get a 10 percent tax, providing a very significant benefit to corporations to offshore jobs. I don't think we would have done that. Maybe that is why many of us voted against the legislation.
There is much more to be said about it, but the fundamental point at this moment is this resolution that says fully fund the Air Force. We are 100 percent for that.
The question we ask is: How are we to do that in the face of the massive deficit and, to hear from our Republican leadership, tax cut 2.0? What does that mean, on tax cut 1.0? We don't know. But I would draw the attention of all of us to what happens when you do not have the revenues necessary to fund the government--Oklahoma.
Mr. Speaker, I yield back the balance of my time.