Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I rise today to express concerns other colleagues on this side of the aisle have as well, that…
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
Mr. President, I rise today to express concerns other colleagues on this side of the aisle have as well, that in the midst of what is the most robust economic turnaround and growth in a generation, with wages up and unemployment down and almost 11 million new jobs created, most of those small businesses--we love that in Michigan. I know the Presiding Officer does in Maine as well. With all of the positive indicators and with all of our efforts to bring down costs, because that is the big thing for people right now, bringing down their costs--and this month, the good news is a $35 cap on insulin for anyone on Medicare. A senior citizen who is a diabetic--a $35 cap on insulin.
We need to do more to bring down costs, but instead of joining with us, the new House Republican majority has decided, well, let's see, when things are turning around for the American people, I know--let's crash the economy. Let's say we are not going to pay our bills. Let's cause interest rates to go up. Let's cause people to be hurt, maybe jeopardize people getting their Social Security, Medicare, veterans' benefits, or paying the military. This makes absolutely no sense.
I know it is difficult, this antiquated thing called the debt ceiling, because, really, it is about whether or not we are going to pay our bills. So we decide as a family we are going to get a mortgage, and then 2 years into it, we decide, you know, I think we are going to stop paying the mortgage. I don't want to pay my bills anymore on that. And we just stop paying bills. I mean, our country can't just make commitments to families, to veterans, to the military, to seniors, to children, to other countries, and say: Nah, I think we will just stop paying our bills. It is outrageous, it is irresponsible, and the consequences, as we know, will literally crash our economy.
So what do the Republicans say they want to do? In return for not crashing the economy, in return for the United States meeting its obligations and paying its bills, what do they want to do? What do they say that somehow we have to agree to?
Well, the first thing they have already done, which is an extension of how their focus is very much on keeping money in the pockets of the wealthy and the well connected, the very first bill--they are talking debt. Oh, we have so much debt. We have all this debt. The first thing they do, the very first bill, very first week, may have been the first day--I am not sure--after the 15 votes to create a Speaker, they turn around and they pass a bill that will add $114 billion to the national debt--$114 billion to the national debt. Why? Because they think that if you are a wealthy tax cheat, you should be able to continue doing it. So they want to take away the capacity for the IRS, for investigators to go after the tax cheats.
Now, they are OK if you are going after a poor person who is on the earned income tax credit. In fact, they are OK with the fact that the most audited county in the United States right now is in Mississippi, Humphreys, MS. Forty percent of the residents are poor, Black residents, and they have the highest audit rate. They are on the earned income tax credit. Now, that is OK, but don't go after our buddies--oh no. They are the ones with all the accountants and the attorneys. You know, we have seen it play out with the former President of the United States. Do everything you can not to have to pay your fair share of taxes.
Now, we as Democrats know that everybody should have to pay their fair share, and, in fact, in the Inflation Reduction Act, we made a big step on that point where the corporations are not paying. But what do they want? OK, protect tax cheats.
Then they say: Well, we have to cut Social Security and Medicare. We can't afford that anymore.
A great American success story. Lifted over half the country's retirees out of poverty. A great American success story--brought to you predominantly by Democrats, I should say--but they say: Let's cut Social Security and Medicare before we pay our bills, because we have too much debt. Even though we can add to the debt for rich people, we need to cut Social Security and Medicare.
Then the one that is like on top of everything else, when they all ran on how costs were too high in the election--I mean, we are the ones fighting to bring down energy costs, $1,000 per family back in their pockets, $35 cap on insulin for seniors right now--right now, happening right now.
So what do they say we should do to deal with the debt they are talking about? Oh, let's have a 30-percent sales tax increase. Let's increase the cost of an automobile by $10,000. That is pretty personal to me, coming from Michigan. We make a lot of those vehicles. We are pretty proud of making those vehicles. People drive those vehicles. A $10,000 increase on somebody--try to have a car to get the kids to school, get people to work, and so on. Increase the cost of a house. We don't know what all of this is. Food, electric bills, transportation-- we don't know what it is.
But now we are at a point where they want to say: We are not paying our bills unless you do what we want. So now the question is, OK, pass the bills. Show us what you have got. You want this? Vote on it. Vote on it. Pass your agenda. You already voted on step 1, adding to the deficit about $114 billion. So you have all these other ideas that will hurt seniors and children and the majority of Americans, hard-working Americans, but if that is what you think, if that is really what you think, then pass the bills. Pass the bills.
So what they really don't want to tell you while they are talking about all of this and talking about how we have a high national debt, which we do, and we need to come together and continue to do things to address that, what they don't tell you--the dirty little secret is that almost 30 percent of the national debt was accumulated during 4 years of President Trump, that they voted for, and most of that was a huge tax cut for the wealthy and well connected.
Now, they were willing to pay the bills--raised the debt ceiling three times during the Trump years--because it was about giving their buddies, the wealthy and well connected, a big tax cut. The truth of the matter is, if there hadn't been that tax cut, if we had truly required wealthy tax cheats to pay their fair share of taxes, if we had done those two things, we wouldn't even have to raise the debt ceiling right now. We wouldn't have to do that. There wouldn't be a need.
So they do this shell game here. So it is tax cuts for the wealthy, don't let their wealthy buddies have to pay their fair share of taxes, and then turn around and argue that they are going to crash the economy, not pay our bills, unless we cut Social Security and Medicare and add a 30-percent sales tax and a whole range of other things.
This is not our priority. We certainly, as Democrats, do not believe that this should be the priority of the American people.
By the way, when we talk about it, I forgot to mention that the other half of the story is that while they were doing this, in the last 2 years, the deficit fell by $1.4 trillion under President Biden--$1.4 trillion--while we have invested in people, rebuilding the country, bringing jobs home, invested in those things that will create opportunity for everybody to succeed. While we have been investing in people--not the powerful, not focused on profits but people--while we have been doing that, we have also been focused on bringing the deficit down.
So I hope our colleagues on the other side of the building and the other side of the aisle will take a step back here from the brink and understand the dangerous situation they are putting us in with not being willing to pay the bills, with crashing the economy, all for a radical, radical MAGA agenda that will hurt the majority of the American people.
They want to debate that agenda separately from crashing the economy. Let's pay our bills, and if they want to debate that and they want to pass bills and send them over to us, that is the legislative process. They can do that, and we will have that debate. And we will send them bills that make sure wealthy tax cheats pay their fair share, just like we did in the Inflation Reduction Act with a 15-percent minimum corporate tax. And we will continue to put people first, not just the wealthy and the powerful in this country.
It is a very different vision. It is a very different view of how you grow the economy. It is a very different view of whom we are fighting for, whom we are working for.
I am glad to be on this side. I am glad to be on this side with the majority of the people. And I would argue what we have done the last 2 years, putting people first, investing in people and bringing jobs home and rebuilding the economy and investing in science and bringing down costs and continuing to focus on that, as well as the deficit, has worked. This is not just rhetoric. It actually has worked. It actually has worked.
So I hope our Republican colleagues, particularly in the House, will join us in those things that will actually move America forward.
I suggest the absence of a quorum.
Reserving the right to object.
First of all, let me say that I take a backseat to no one on wanting to get out of China. There is no question about that. I authored the ``Buy America'' provisions with Senator Braun that are in the infrastructure bill. We have a ``Made in America'' offer. We are bringing jobs home. We are making sure that we are putting Michigan and American businesses and workers first--absolutely.
I also agree and Senator Manchin has--he and I have worked together on the clean energy manufacturing tax credits, 48C, which is critical; the advanced battery production tax credits; the things Senator Braun talked about that are bringing jobs to Indiana from the Inflation Reduction Act; and the credits that we have done for batteries and solar and wind and manufacturing and so on. They were all in that bill, which I was proud to help author and to support those efforts.
I support when Senator Manchin has said to those in other countries that if you want to benefit from our tax structure, move your plants to America. I said that myself. I am all for that.
This particular credit is confusing. It was not well vetted. It is not supported by anyone in the industry who believes that they have the capacity immediately, right this minute, to meet the complicated formulas. They would love to. We would love it if we didn't have to worry about lithium from China. They are working feverishly. In fact, there is a free-trade agreement with Chile coming before this body. They have lithium deposits that would be very, very helpful to us. I strongly support being able to make them part of the free-trade agreements in the legislation so that we can get the lithium from there, as well as other parts of the world.
But we are not there yet.
This does not create any path for success for American automobile workers, for American automobile companies, for suppliers, for consumers who are interested in being able to purchase electric vehicles and benefit from a credit, which, by the way, every other country has, including China. They have their own consumer credit.
So this is a situation where we disagree on how this was put together, how it is written, how the effect of it is in terms of the dates and so on.
But I have to say, on behalf of Treasury, which was given thousands of regulations they have to write by December 31, that it is not unreasonable that they took the time to listen and be thoughtful about how they did it, and they announced that they would be bringing these rules forward in March. That is not an unreasonable thing. It affects a huge industry, a foundational industry.
Henry Ford is from Michigan. We are proud to have Henry Ford from Michigan. By the way, he and Thomas Edison first tried to create an electric vehicle. That was the first choice until we decided, as Congress, to invest in oil and gas subsidies that took them in a different direction.
The bottom line: It is not unreasonable, what Treasury is doing, the path they are on. They have been given, I believe, an incredibly complicated task to try to figure out how this consumer credit will work for consumers and for the companies and workers. I don't disagree with the goals talked about. I don't disagree with anything that has
been said, except that it doesn't relate to what is happening in this credit, which doesn't work on a practical level. I am for whatever support and flexibility that we can provide to achieve what are the stated goals.
So on behalf of American automobile companies, all the auto workers and American consumers, I object.
Yes.
Not all.
Ford didn't hit it.
They haven't hit it, no.
First of all, China cannot flood the market because we are not going to be able to meet these criteria in terms of being able to get the credit. They have their own credit, and there is no reason they are not going to be able to flood the U.S. market. I have a difference of opinion about what this actually means.
This is what I would say. We have had three parts of the stool on supporting moving forward on a new electric transportation model. One is charging stations that we did in the infrastructure bill. It is really important to have charging stations. No. 2 is helping to create production through the battery and clean energy tax credits and so on. Third is helping to bring costs down at the beginning until volume comes up.
Now, the reason people are waiting for cars is because of the lack of chips. I mean, they are waiting because of that, and we addressed that as well.
The truth is, what was put in place on this piece was complicated. It doesn't work for several years for American companies. It doesn't stop China. It doesn't stop anybody else from coming into our market. They can come into our market. It stops our companies from fully benefiting from a piece of this with consumers. That is very important.
Thank you very much. I object.
S. Res. 13