Mr. Speaker, I yield myself such time as I may consume. I thank my friend for yielding me the customary 30 minutes. Mr. Speaker, I am sorry I can't support this continuing resolution today. The great…
Mr. Speaker, I yield myself such time as I may consume. I thank my friend for yielding me the customary 30 minutes.
Mr. Speaker, I am sorry I can't support this continuing resolution today.
The great government of the United States of America that has been called ``the last best hope of man'' cannot be funded in tranches of maybe 2 weeks to 3 weeks. This is the fifth continuing resolution that we have done since the 30th of September. That is an atrocity. I mean, I can't think of any legislative body anywhere totally unable to do its job. And as sorry as I am to say it because of my great respect and affection for my fellow Members, I don't believe that this majority is capable of governing.
We are 2 days before the shutdown of the government of the United States, before it closes for business. Late last night, about 10 p.m., they finally released the details of this short-term spending bill. And we will be back here as soon as this one expires doing yet another one.
We are 5 months into the fiscal year, and this is the majority's fifth continuing resolution. We are virtually in the same position today as we were on September 8, December 7, December 21, and January 18 when this Chamber passed the prior continuing resolutions.
The majority isn't learning from any of this. They just keep repeating those mistakes. Like the bill before it, the proposal was written by and for the majority.
Let me repeat. The Democrats had virtually no say in this.
And once again, it ignores many of the priorities that we all agree need to be addressed: providing additional disaster relief after a storm season that saw historic wildfires, hurricanes, and mudslides; three rail wrecks in 2 weeks with fatalities, certainly proving to us, if we didn't know it already, that our neglect of the railroads, the bridges, the infrastructure in the United States is a mess. Saving America's endangered pensions is also a priority, and extending additional health access for our veterans certainly is not just a priority, but an obligation.
What is included here is woefully inadequate. This bill pays for extending community health centers--which is very important to me, let me hasten to add--by eviscerating funding for one of the most important parts of the Affordable Care Act that helps keep people well: the Prevention Fund. This fund focuses on children's health by expanding access to lifesaving vaccines and reducing the risk of lead poisoning, among many other things. The majority is paying for opening the centers by gutting the Prevention Fund while we are experiencing the worst flu epidemic in nearly a decade.
Now, I have heard a lot of talk about prioritizing the national defense. We don't take a back seat on our side to anybody who loves and respects the people who defend us, who every day--an all-volunteer military--stands on the line for us.
But we also believe that this bill does not raise the Budget Control Act sequester level of spending caps for nondefense. That is a shame, and it is also the Budget Control Act.
Mr. Speaker, one-third of the nondefense domestic budget that we are trying to get parity for goes to national security, part of our defense: to our veterans, to homeland security, the State Department, the Justice Department, and counterterrorism initiatives.
Refusing to equally raise the defense and nondefense caps is irresponsible. Secretary of Defense General Mattis has said: No enemy is more harmful than unpredictable funding from Congress.
But it isn't just defense that has had undependable funding. Not a single agency of the Federal Government knows from one week to another whether they will be funded or what they can do. We have cut down on almost everything that they can do, including travel to places that they absolutely need to be. It is pretty awful.
We have had the warnings, yet here we are today with a fifth short- term continuing resolution. The majority has 238 seats in the Chamber, but it only holds 51 seats in the Senate. They have the ability to draft a partisan agenda, and routinely do.
And we just saw that spectacle coming from the Intelligence Committee in the House, when a memo, governed by the majority--and one was acted on and put out for the public--but we are waiting and hoping that the one for the minority will be given the approval by the President of the United States.
But for anything, including this bill, to have a chance of getting 60 votes in the Senate and becoming law, you have to involve the Democrats. They don't have enough over there. Fifty-one is not 60. This is simple math.
The minority leader in the Senate has said this proposal is a nonstarter. He added that moving forward with this plan would ``jeopardize the positive discussions going on right now about the budget, immigration, disaster aid, and more.'' So we know, standing here today, that we are wasting our time.
We should finally bring an end to the continuing resolutions and the failed my-way-or-the-highway approach to governing. That is the only way the majority can fulfill what Speaker Ryan pledged when he took the gavel and said: ``Only a fully functioning House can truly represent the people. And If there were ever a time for us to step up, this would be that time.''
Mr. Speaker, the American people and the world have watched for months as the greatest democracy ever devised has been defined by its dysfunction. If ever there was one, this is the time for the majority to step up.
I am very much concerned, Mr. Speaker, that we are reaching the tipping point. That the dysfunction and chaos displayed not just with the actions of the stock market in the past 3 days, but our inability to really know whether or not we are going to keep the lights on has cost us dearly with respect to the rest of the world. And I need to point out as well, just a few minutes ago, the President of the United States thought that a government shutdown would be a good idea.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, President Trump said to reporters earlier today that if Congress can't reach a deal on immigration: ``I'd love to see a shutdown if we can't get this stuff taken care of. If we have to shut it down because the Democrats don't want safety . . . let's shut it down.''
We are also the people who were accused last week at the State of the Union--because we didn't show great enthusiasm for his speech--that we were treasonous. It is really pretty frightening to me, Mr. Speaker, what is going on here, and I can't avoid talking about it. I said earlier in the Rules Committee that I think we are reaching a tipping point, and I honestly do believe that.
But this isn't the first time that President Trump encouraged a government shutdown, which would be devastating. The last one we had was for 16 days and took $24 billion out of this economy. This is remarkable and, I think, pretty sad.
The President keeps injecting uncertainty into what already is a chaotic process from the majority. No one in this Chamber is against safety. We are asking them to take action on the bipartisan priorities that have languished while they passed tax cuts for millionaires.
In 2016, during an interview with CBS This Morning, President Trump said: ``I'm the king of debt. I'm great with debt. Nobody knows the debt better than me.''
Well, Mr. Speaker, according to this article from The Washington Post from February 3: ``The U.S. Treasury expects to borrow $955 billion this fiscal year. . . . It's the highest amount of borrowing in 6 years, and a big jump from the $519 billion the Federal Government borrowed last year.''
He is definitely the king of debt.
Mr. Speaker, I include in the Record the article from The Washington Post titled: ``The U.S. Government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year.''
[From the Washington Post, February 3, 2018.]
The U.S. Government Is Set To Borrow Nearly $1 Trillion This Year, an
84 Percent Jump From Last Year
(By Heather Long)
It was another crazy news week, so it's understandable if
you missed a small but important announcement from the
Treasury Department: The federal government is on track to
borrow nearly $1 trillion this fiscal year--Trump's first
full year in charge of the budget.
That's almost double what the government borrowed in fiscal
2017.
Here are the exact figures: The U.S. Treasury expects to
borrow $955 billion this fiscal year, according to documents
released Wednesday. It's the highest amount of borrowing in
six years, and a big jump from the $519 billion the federal
government borrowed last year.
Treasury mainly attributed, the increase to the ``fiscal
outlook.'' The Congressional Budget Office was more blunt. In
a report this week, the CBO said tax receipts are going to be
lower because of the new tax law.
The uptick in borrowing is yet another complication in the
heated debates in Congress over whether to spend more money
on infrastructure, the military, disaster relief and other
domestic programs. The deficit is already up significantly,
even before Congress allots more money to any of these areas.
``We're addicted to debt,'' says Marc Goldwein, senior
policy director at Committee for a Responsible Federal
Budget. He blames both parties for the situation.
What's particularly jarring is this is the first time
borrowing has jumped this much (as a share of GDP) in a non-
recession time since Ronald Reagan was president, says Ernie
Tedeschi, a former senior adviser to the U.S. Treasury who is
now head of fiscal analysis at Evercore ISI. Under Reagan,
borrowing spiked because of a buildup in the military,
something Trump is advocating again.
Trump didn't mention the debt--or the ongoing budget
deficits--in his State of the Union address. The absence of
any mention of the national debt was frustrating for Goldwein
and others who warn that America has a major economic problem
looming.
``It is terrible. Those deficits and the debt that keeps
rising is a serious problem, not only in the long run, but
right now,'' Harvard economist Martin Feldstein, a former
Reagan adviser, told Bloomberg News.
The White House got a taste this week of just how
problematic this debt situation could get. Investors are
concerned about all the additional borrowing and the
likelihood of higher inflation, which is why the interest
rates on U.S. government bonds hit the highest level since
2014. That, in turn, partly drove the worst weekly sell-off
in the stock market in two years.
The belief in Washington and on Wall Street has long been
that the U.S. government could just keep issuing debt because
people around the world are eager to buy up this safe-haven
asset. But there may be a limit to how much the market wants,
especially if inflation starts rising and investors prefer to
ditch bonds for higher-returning stocks.
``Some of my Wall Street clients are starting to talk
recession in 2019 because of these issues. Fiscal policy is
just out of control,'' says Peter Davis, a former tax
economist in Congress who now runs Davis Capital Investment
Ideas.
The Federal Reserve was also buying a lot of U.S. Treasury
debt since the crisis, helping to beef up demand. But the Fed
recently decided to stop doing that now that the economy has
improved. It's another wrinkle as Treasury has to look for
new buyers.
Tedeschi, the former Treasury adviser to the Obama
administration, calls it ``concerning, but not a crisis.''
Still, he says it's a ``big risk'' to plan on borrowing so
much in the coming years.
Trump's Treasury forecasts borrowing more than $1 trillion
in 2019 and more than $1.1 trillion in 2020. Before taking
office, Trump described himself as the ``king of debt,''
although he campaigned on reducing the national debt.
The Committee for a Responsible Federal Budget predicts the
U.S. deficit will hit $1 trillion by 2019 and stay there for
a while. The latest borrowing figure--$955 billion--released
this week was determined from a survey of bond market
participants, who tend to be even faster to react to the
changing policy landscape and change their forecasts.
Both parties claim they want to be ``fiscally
responsible,'' but Goldwein says they both pass legislation
that adds to the debt.
Politicians argue this is the last time they'll pass a bill
that makes the deficit worse, but so far, they just keep
going.
The latest example of largesse is the GOP tax bill. It's
expected to add $1 trillion or more to the debt, according to
nonpartisan analysis from the Joint Committee on Taxation
(and yes, that's after accounting for some increased economic
growth).
But even before that, Goldwein points to the 2015 extension
of many tax cuts and the 2014 delays in Medicare
reimbursement cuts.
``Every time you feed your addiction, you grow your
addiction,'' says Goldwein.
There doesn't seem to be any appetite for budgetary
restraint in Washington, but the market may force Congress's
hand.
Mr. Speaker, we did hear in the State of the Union that we will be asking for $1.5 trillion for infrastructure. Given the $1.5 trillion that we have already started borrowing for to give the top 1 percent a great tax cut that would be permanent, I am not sure anybody will finance that request. And, frankly, taking on that amount of debt would mean that almost everything else that we do in the country would take a back seat, or even further behind than back.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, if we defeat the previous question, I will offer an amendment to the rule to bring up H.R. 3440, the Dream Act. This bipartisan, bicameral legislation would help hundreds of thousands of young people who are American in every way except on paper.
Mr. Speaker, I ask unanimous consent to insert the text of the amendment in the Record, along with extraneous material, immediately prior to the vote on the previous question.
Mr. Speaker, I yield 3 minutes to the gentlewoman from California (Mrs. Napolitano) to discuss our proposal.
Mr. Speaker, I yield myself 30 seconds to say that I would not come to the floor if I were in the majority and lecture the minority when the majority runs the House, the Senate, and the White House and accuse us of shutting down the House or not producing the votes. We don't have enough votes in the first place. That is why we are the minority.
Mr. Speaker, I am pleased to yield 3 minutes to the gentleman from Texas (Mr. Doggett), the distinguished ranking member of the Ways and Means Subcommittee on Tax Policy.
Mr. Speaker, I yield the gentleman from Texas an additional 1 minute.
Mr. Speaker, I am pleased to yield 3 minutes to the gentlewoman from Texas (Ms. Jackson Lee).
Mr. Speaker, I yield the gentlewoman from Texas an additional 2 minutes.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I have heard the majority speak with great urgency today about the need to pass the continuing resolution. But where was this urgency from the majority for the last 5 months of this fiscal year?
They were so consumed with providing tax breaks to the wealthy and corporations that they ignored virtually everything else.
This was a bill that was sold as a middle class tax cut. But 83 percent of the tax cuts go to the wealthiest 1 percent; and for corporations, the tax breaks are permanent. For individuals, they are sunsetted.
Speaker Ryan, over the weekend, promoted the fact that a secretary in Pennsylvania received an extra $1.50 a week under the tax scam. That is $78 a year for her. You can see what the middle class actually got.
But compare that with the wealthy. One analysis found that the Koch brothers and their corporate empire could save between $1 billion and $1.4 billion combined in income taxes every year as a result of the tax law. It is important to remember that this is a permanent cut.
It was a bill written for the rich to help the rich. It spends money we don't have, while adding $1.5 trillion to the deficit. That is such a staggering amount that the Congressional Budget Office said last week that because of this tax bill, our government now is expected to run out of money sooner than anticipated.
The deadline to raise the debt ceiling has now been moved from early April to mid-March. Only during the Second World War was our debt as a percentage of gross domestic product higher than it is today. I hope we can forever end the myth that the majority is the party of fiscal discipline. The situation we are in today is a direct result of the majority prioritizing the wealthy over doing the most basic functions of keeping the government running.
And now, after ignoring Democrats as this bill was drafted, they expect us to fall in line and support a flawed proposal. That is not how it works. If they want our support, they need to work with us. And Democrats have been clear: We cannot afford to keep kicking the can down the road. It is past time for a long-term bill that addresses urgent national priorities.
Mr. Speaker, I urge a ``no'' vote on the previous question, on the rule, and the bill.
I yield back the balance of my time.
Mr. Speaker, on that I demand the yeas and nays.