Mr. President, I rise today to speak in opposition to the tax reconciliation conference report. The Federal Government is the rare institution that can spend money it just doesn't have. We spend and we spend and when we don't take in…
Mr. President, I rise today to speak in opposition to the tax reconciliation conference report.
The Federal Government is the rare institution that can spend money it just doesn't have. We spend and we spend and when we don't take in enough to cover the bill, we just borrow from China and Japan and keep on spending.
Families would go bankrupt if they managed their budgets this way. Businesses would shut down. Most mayors and Governors would be thrown in jail. And yet Washington operates as if we can continue to get away with more of the same.
The reality is, we can't. To do so simply passes the burden to our children and grandchildren, while keeping us in debt to our major economic competitors.
By standard accounting rules, our Federal deficit last year rose to $760 billion, a figure that now makes our national debt more than $8.4 trillion.
Think of it this way: last year, the Federal Government spent more than it took in by about $2,500 for every single man, woman, and child in America. And that is on top of each household's $75,000 share of our national debt. That is a credit card bill and a second mortgage that most Americans didn't even know they had.
What is worse is that even these figures don't tell the full picture. The rising demands on Medicare and Social Security over the next 35 years will swallow up the Federal budget unless we adjust either the amount that is paid into the two trust funds or the amount that is paid out.
Sadly, there may be too much partisan rancor right now to address these long-term challenges. But, at the very least, what we can do right now is to stop making things worse. This bill doesn't do that. This bill makes things worse--much worse.
The $70 billion pricetag is just the start. Because we know that that number is just a gimmick to push this through--and we know that more tax cuts are coming in another bill that will push the real cost closer to $150 billion in new deficits.
But the most offensive part of this bill isn't even the pricetag. The most offensive part is where this tax relief is going. Because this money's not going to the working Americans who are already having trouble paying their medical bills and tuition bills and their mortgage payments and their taxes. Those middle-class Americans will get an average of $20 from this tax bill. Twenty dollars.
On the other hand, if you make more than a million dollars, well, this is the bill for you--because you will get an average of $42,000 in tax cuts--$42,000 in tax cuts for millionaires.
This bill is out of touch with the country's priorities. It makes the wrong choice for Americans over and over again. It makes America more vulnerable financially at a time when we need to be stronger. It enshrines tax breaks for oil companies yet leaves out the deduction of college tuition. It creates a huge tax break for wealthy savings yet leaves out the saver's credit to help moderate-income households save for retirement. It privileges the high incomes of wealthy investors yet leaves out tax credits that help employers hire people off welfare. It rushes to address the demands of big corporations out in 2009 yet fails to shield middle-class families from the outdated alternative minimum tax even through 2007.
Given our country's precarious budgetary situation, now is not the time for a $70 billion tax cut that will only push us deeper into debt. Before we embark on an expensive package of tax cuts or new spending initiatives--no matter how meritorious--we should insist upon sensible pay-as-you-go rules so that tax cuts and new spending are paid for today rather than passed along to our children and grandchildren.
You know, this place never ceases to amaze me. It amazes me that at this time in our country's history--a time when so many Americans are struggling to get by; a time when so many have lost faith in the idea of a government that looks out for their interests and upholds their values; a time when we continue to mortgage our future to bankers in China; at a time when all this is going on--we are debating a $70 billion tax bill that will give the wealthiest one-tenth of 1 percent of all Americans a tax cut that is more than 4 thousand times larger than most middle-class Americans will get.
If you are wondering why our approval ratings are in the tank, take another look at this bill. This is a bill that is neither responsible, nor fair, nor honest. It is not worthy of the people who sent us here, and it certainly doesn't help them. And so I urge my colleagues to vote against the conference report on tax reconciliation.
Mr. FEINGOLD Mr. President, this country needs meaningful health care reform. I believe that health care is a fundamental right, and I believe that this right should not be compromised, nor should the quality of the insurance offered to Americans be compromised. Far too many of our constituents lack health coverage, and we should be acting to address that problem today. In fact, we should have addressed that problem long ago.
Unfortunately, it has become clear that in this current political environment Congress will not discuss ways to provide health care coverage to all Americans. In fact, we find ourselves debating legislation today that will set back our efforts to provide adequate coverage to Americans.
The Health Insurance Marketplace Modernization Act would allow the preemption of State insurance mandates that were put into place to protect people from plans that would otherwise drop coverage of medically necessary services. Insurance regulation is an issue that has traditionally been under the jurisdiction of the States. As a former State legislator, I appreciate the hard work that is done on the State level to tailor these laws to State residents, and I think that it is shameful to undo all of this hard work and subvert States' rights in this area.
States rights are not my only concern about this legislation. This preemption could have a very dangerous impact on individuals and families. It could result in health insurance policyholders no longer having access to numerous services including mammograms, mental health care, and newborn baby care. And these are not simply my concerns--I have heard from thousands of chiropractors, podiatrists, optometrists, and mental health providers in the State of Wisconsin, all of them concerned about losing provider mandates in the State. The people of Wisconsin believe that they should have access to comprehensive health insurance, but this legislation would reverse the progress that Wisconsin has made in ensuring adequate health coverage for its citizens. Wisconsin is not the only State--many States would lose mandates under this legislation. This bill would essentially provide underinsurance for Americans, and this isn't what Americans want or deserve.
In addition, this bill would cause fragmentation in the health insurance market, which would make it even more difficult for sick individuals to obtain health insurance. Without adequate regulation, insurance plans offered under this new scheme would be able to attract healthy low-risk individuals, leaving higher concentrations of sick individuals in traditional health plans that operate within State laws. This could drive up the costs in these traditional health care plans, potentially making insurance unaffordable for their policyholders.
Supporters of this bill are right about one thing, small businesses are facing enormous challenges in offering health insurance to employees. Health care costs have skyrocketed along with health insurance premiums, and it is difficult for small businesses to stay competitive without being able to afford insurance for employees. I have been hearing about this problem firsthand for years from small businessowners who attend my listening sessions and tell me that they want
to provide insurance for their employees, but they are getting squeezed financially. They are looking for help from the Federal Government, and I regret that they are instead being offered a badly flawed bill.
Small businesses owners and their employees should have access to high-quality health insurance, and I introduced legislation with Senator Collins that would help provide this for small businesses. Our legislation would avoid the problems of S. 1955 while still allowing associations and small businesses to pool their members so as to negotiate lower insurance premiums. This bill, the Promoting Health Care Purchasing Cooperative Act, would establish grant programs to help both large and small businesses form group purchasing cooperatives within the framework of existing State regulation. This legislation provides an alternative to the legislation we are debating that would not preempt State mandates and that works within the existing framework in the States. But this legislation certainly isn't the magic bullet that can address the entirety of the problems within the health care system.
We need to find a comprehensive solution to the problems with our Nation's health care. Almost 46 million Americans are currently uninsured, and millions more underinsured. This number has been climbing steadily for 20 years. People who fall into the category of the uninsured are seven times more likely to seek care in an emergency room. They are less likely to receive preventative care, and they are more likely to die as a result. The effects of uninsurance are not limited to individuals and families without coverage--each one of us deals with the consequences.
By not taking action on providing affordable insurance for people in our country, we are putting our future physical and economic health at stake. America's survival rate for newborn babies ranks near the bottom among industrialized nations, better only than Latvia. Our other health outcomes for most segments of the population are poorer than outcomes in other industrialized nations. Additionally, our businesses are having difficulty competing in the global market with businesses in countries that have universal health care. The combination of problems is clearly taking its toll on our country's future.
While we face these looming problems of poor health and access into the health care system, we devote more of our economy to health care than any other developed nation. In real dollars, we spend more on health care than the entirety of England's GDP. Despite this incredible spending, our country is still looking at astounding numbers of uninsured people, and Congress continues to do nothing.
The only thing worse than doing nothing is pretending to do something, and that is what this Republican-designated Health Week amounts to. We have been given 1 week only 1 week to discuss the staggering problems facing the health care system in this country. We have been presented with legislation that ignores or exacerbates the real problems we face. And we have been shut out of the opportunity to offer amendments. If we are going to finally debate health care, as we must, we should engage in a real debate, a debate that gives health care the attention it deserves, instead of debating a bill that Republican leadership probably expects will not even be passed into law. Let's talk about real answers for real people. Let's talk about true health care reform.
I was pleased to be joined by the Senator from South Carolina, Mr. Graham, in introducing legislation that requires Congress to act on health care reform. Our legislation would force Congress to finally address this issue. It requires Congress to discuss, debate, and consider universal health care bills within the first 90 days of the session following enactment of the bill. This bill does not prejudge what particular health care reform measure should be debated. There are many worthy proposals that would qualify for consideration, and this bill does not dictate policy. This simply requires Congress to act. The American people want action, the States want action, and it is time that we answered their call.
Instead of avoiding the issue or offering dead-end solutions, we should enact health care reform legislation that harnesses the talent and ingenuity of Americans to come up with new solutions. That is why I advocate a State-based approach to health care reform, which allows States to experiment with ways to enhance access to health care for their citizens. This approach takes advantage of America's greatest resources--its mind-power and diversity--to bring our country closer to the goal of realizing a working health care system with universal coverage. If the Federal Government helped States enact changes in the health care system, then I believe we would see our political logjam around health care begin to loosen.
We are already seeing States move ahead of the Federal Government on covering the uninsured. Massachusetts recently passed into law a plan to require health insurance for residents. In Wisconsin there has been discussion of expanding health insurance coverage in the State. I think the Federal Government should be working to encourage these innovative initiatives.
States could be creative in the State resources they use to expand health care coverage. For example, a State could use personal or employer mandates for coverage, use State tax incentives, create a single-payer system or even join with neighboring States to offer a regional health care plan.
This approach would guarantee universal health care but still leave room for the flexibility and creativity that is necessary to ensure that everyone has access to good, affordable coverage.
Why don't we use this so-called Health Week to discuss meaningful legislation like the approach I have discussed, rather than simply bringing partisan bills to the floor that won't move? It is time for the government to step up and fulfill its duty to make sure that the benefits of our Nation's health care system can be enjoyed by all Americans. I urge my colleagues to act.
I yield the floor.
Unanimous Consent Request--S. 1955