Mr. President, could the Presiding Officer let us know how much time remains on the Vitter amendment and general debate? Mr. President, thank you very much. Mr. President, of all the times to stop job creation in its tracks, I will tell…
Mr. President, could the Presiding Officer let us know how much time remains on the Vitter amendment and general debate?
Mr. President, thank you very much.
Mr. President, of all the times to stop job creation in its tracks, I will tell you, this is not the time to do it. The Republican response to the bill that has come over from the House--the bill that would restore the funding, make sure there is funding in the highway trust fund to get us through September 30, and also make sure we can handle unemployment insurance and also ensure that our families can get mortgages, those who qualify--the answer from our Republican friends, and they have a right to do it, is to take that funding from the unobligated stimulus package.
Now, here is the thing. We know we are starting to finally get those dollars for our economic recovery out the door. We know that. Yes, they are not flying out the door because the administration wants to make sure these are worthy projects. But I will tell you right now, the Republicans are putting at risk the very program they say they embrace: the highway program. The fact is, we still have $10 billion for highway-related jobs that would be subjected to the Vitter amendment. So, irony of ironies, they say they are extending the highway trust fund, but that amendment puts these funds at risk, puts these jobs at risk.
The stimulus is designed to create those jobs. The funding is getting out the door. I have gone to my State and seen it at work. Yes, we know employment is lagging. So what do you do when employment is lagging? You do not go to a program that is designed to put people to work.
I think it is important to note that the House bill is not only deficit neutral, it actually reduces the deficit. According to CBO, not only does it do it in 2010 but over the next 5- to 10-year period. That is because of the way they are funding the trust fund and the way they are funding the housing priority.
What the Republicans are doing is they are taking a deficit reduction measure that keeps the highway trust fund solvent through the end of September, that makes sure people can continue to get unemployment insurance, that makes sure people can get mortgages--those who qualify--and they are saying that, instead of reducing the deficit, let's slash the stimulus program, take funding away from our States, away from our counties, our cities, and our businesses back home when it is not necessary.
Clearly, it is not even moving funds, it is slashing funds from the stimulus program, which has one purpose, and that purpose is to create jobs.
We have heard from our Republicans friends over and over again, who voted against the stimulus--although I have to say some of them are standing in front of projects built with stimulus dollars, but we will forget that for now--we are hearing from them that the stimulus isn't working fast enough. What do they want to do today but cut the funding?
What I have suggested--and I want to get my friend's reaction to this--to my friends on the other side--because I agree we ought to extend the highway trust fund for 18 months; I don't like the way they are paying for it--is to wait until the end of the stimulus program, and if there is funding at that time that hasn't been obligated, that has been left on the table, take those funds and add them to the highway trust fund.
I will yield to the Senator from Louisiana on his time, but I will keep my time right now. It is very important we thread this needle in the right way. We want those jobs out there, and we want them out there as fast as they can get there.
Out of the $27 billion for highway projects, there is $10 billion remaining. I can assure both my friends that it is very important to be careful in the way you do it. If you do it too quickly, you know what will happen on the floor of the Senate. We will have our friends on the other side saying: `` they rushed.'' We want to be careful, but we don't want to, at this point, as we see this recovery starting to take hold--we all believe and hope it is true--we know employment is the lagging indicator. This is not the time to throw a dagger into the heart of job creation. That is what the Senator's amendment will do.
I believe the Senator's amendment--and he can explain it--deals with the trust fund, and others will have similar amendments for UI and mortgage insurance.
My understanding is it is 100 percent because it is the stimulus. We are trying to do that because our States are suffering-- yours is and mine. We saw our Republican Governor talk about how heavy our hearts are back there, and we decided to help our State. This is very different. It is 100 percent offset.
That is correct; 20, 30 percent.
I say to the assistant majority leader, he is absolutely correct. I understand the need to extend the trust funds to 18 months. On that part, Senator Vitter and I are in agreement. But the way he funds it is hurtful to the American people, to the American workers, to our businesses, and to our contractors. Even though we know a lot of us want to see these funds get out there quicker, they are on the verge-- Vice President Biden has said we have committed more than a fourth of the Recovery Act total funds. We are on track to meet the deadline set when the act was passed in February, spending 70 percent by the end of September of 2010. He points out that the purpose of the stimulus was the jolt for immediate help but then a long-term economic recovery.
This kind of amendment--and the others we will see--which says to the American people: Gee, it is 4 months and we want to forget about this whole notion--doesn't make sense. The timing of this is way off. If at the end of the 2-year period, within which the stimulus is supposed to act, there is money left over, I will be the first one saying: Let's either reduce the deficit with it or let's put it into the highway trust fund. I do believe infrastructure should have gotten more funds from the stimulus, but that is another point.
Before my friend leaves, I think I can put some specifics out to him. We already know there are $10 billion worth of highway projects that have not been obligated. That is at risk right away. We know there are Superfund cleanups that are long overdue. We have funds for that. We have $5.5 billion in construction-related activity that deals with cleaning up underground leaking storage tanks and the specialized, good-paying jobs that those activities create. We have $300 million to restore our Nation's wildlife refuges. We have $100 million in a great program Republicans and Democrats have been lauding in my committee--the Economic Development Administration--where you leverage those funds from business. That would be at risk. We have $5 billion available for flood control. It is ironic that my friend from Louisiana--I have been working with him and Senator Landrieu to do everything in our power to stop flooding. We have problems in our State, and Lord knows and the world knows about the problem in Senator Vitter's State; $5 billion was available for flood control, for water supply and harbor maintenance, all of which are focused on job creation, and the irony of ironies is that those funds could well be cut under the Vitter amendment.
Any funds not obligated out of the $5 billion available. As we know, Vice President Biden says, on average, 25 percent of the funds have been obligated. That means a good portion of the $5 billion for flood control would, in fact, be at risk.
I thank my friend for coming over and helping me explain to our colleagues and the American people why we oppose this amendment, even though it may be well intentioned. At the end of the day, it hurts our people and their chance to get good jobs.
I yield the floor and reserve my time.
Madam President, how much time remains on the Vitter amendment on either side?
And on the general debate?
Madam President, I am going to put a couple of items in the Record and make sure Senator Vitter can offer his budget point of order. I asked if Senator Durbin would be willing to take 10 minutes on our side on the general debate. I don't think I have to ask unanimous consent, but why don't I do that. I ask unanimous consent that after I conclude and after Senator Vitter makes his point of order, then we get to Senator Durbin for his 10 minutes.
Madam President, on the issue of the Congressional Budget Office score that scores the House bill as deficit reduction, I find it intriguing that my friend who supports the CBO when they say we are spending money--for example, on the health bill, they say: Oh, look. CBO says it costs money, but he derides it when CBO says this particular bill is a deficit reducer.
I ask unanimous consent to have printed in the Record the CBO score that shows, in fact, the bill sent over from the House reduces the deficit.
Madam President, notwithstanding the order of July 29, I ask that it be in order for Senator Vitter to make a budget point of order against H.R. 3357 at this time, and that a motion to waive the applicable point of order be considered made, with the vote on waiving the point of order occurring at a time to be determined.
Madam President, I rise to speak against the Ensign amendment, and I want to explain why, so I will take my time off that discussion and retain the remainder of my time on the other amendments.
Let me say that Senator Ensign has come to the floor and he wants to talk about fiscal responsibility. I welcome that debate. He blames the Democrats for not doing anything to help us get a handle on deficits and debt. But let's go back to recent history--not ancient history, recent history.
Bill Clinton left the White House in the year 2000, and we had a budget surplus. That was very hard to get to, but we Democrats did it with him and with the help of some of our Republicans. We had a debt practically eliminated. It was on the way down. And I remember discussions about what do we do when we have no more Treasuries to buy.
Then we had George Bush elected, and we had the Republicans supporting him. In a nanosecond, the whole table turned. We went from budget surpluses as far as the eye could see to deficits as far as the eye could see. We went from a debt that was going to be extinguished to a debt that began climbing.
As a result of these policies, there was a call for change in this country. We had more Democrats elected. We have a Democratic President, and he inherited one giant mess. The chickens came home to roost.
So our President said to the Nation: I am going to do everything I can to get out of this economic mess. Help me. Help me pass a bill that will put people to work. He said: I know it is going to be hard. I know it is going to take time, but we need to do this because of the recession. And if we don't get out of this recession, we are not going to be able to attack the problem of deficit and debt.
Anyone who knows President Obama knows that when he was a Senator, he was always conscious of our fiscal issues and distressed about the course we had been on for the last 8 years.
So here is what happens. We are 4 months into the economic recovery package. I have been to places in California, I have seen people getting those jobs--highway jobs, water infrastructure jobs, cleaning up Superfund sites, restoring our wildlife refuges. Those are just some examples of the jobs. And we know, according to Vice President Biden, that about 25 percent of those funds have been obligated.
Senator Vitter came down here and said nothing is working; we are not getting those jobs out there. Let's go in and cut that stimulus program--put a dagger in its heart is what they want to do, when it isn't necessary to do so.
The Congressional Budget Office, as I have said--and I have put into the Record--tells us the bill the House sent us does nothing to increase the deficit. As a matter of fact, it is a small benefit to the deficit over 10 years. They figure it is about $40 million--not much, but it doesn't produce more deficits.
So they come to the floor and they are arguing the House bill at the desk causes deficits when the Congressional Budget Office says, after they had done a study, absolutely not. They still insist it does. Fine. They do not agree with the CBO.
By the way, they do agree with the CBO when the CBO says there are costs to health care reform. Then they embrace the CBO. But now they can't because it doesn't fit their political rhetoric.
So all I can say is, if you take all these amendments--and, look, I don't think they are meant to be mean-spirited. I think they are honest in their approach. They do not like the fact that we passed the stimulus bill. They do not believe in it, even though a few of them on the other side--a few of them--have gone to see some of the projects that are putting their own people to work. A few have done that. I find that a little disingenuous, but that is their choice.
Their argument just doesn't hold up. Look, if we take the funding out of the stimulus, we put at risk $10 billion of highway-related jobs. We put at risk millions of dollars that would otherwise be paid to our construction industry. We put at risk very important construction projects at military bases, long overdue Superfund cleanups, the creation of clean energy jobs in the future, improvements to outdated rural water systems. Why would we want to do this--Why, in the middle of a recession, when we have come up with a way to handle this that does not add to our deficit?
On the highway trust fund, Democrats and Republicans in the Senate agree we ought to do an 18-month extension. On that part of the Vitter amendment, you will find me on his side, but not to take the funds out of the unspent stimulus money that is on the ground and putting people to work and will continue to do so. It has only been 4 months since the funding has started to get out the door. Have a little patience. You know, for 8 years we saw the economy turn into a bad way. For 8 years, we saw this economy turning bad. For 8 years, we saw the recession building. For 8 years, we saw the deficit building. For 8 years, we saw the debt building. It is not going to take 4 or 5 months to turn this around. And why would we put a dagger in the heart of job creation at this point, no matter how noble the effort?
I believe it is very important that we don't play games with this bill that is at the desk. For example, Senator Bond is going to offer a very good amendment. It has nothing to do with cutting the stimulus; it just corrects a real problem, and it restores funding to the trust fund. He is absolutely right on that, and I absolutely will support his amendment. But here is the thing. We have until September 30 to make that fix, when we have to reauthorize the program. This is just a financial transfer into the fund. September 30, we need to actually reauthorize the highway bill. We take care of Senator Bond. But the reason I cannot support it is, as he well knows, the House has stated-- and I do not agree with their attitude, I don't agree with it but they have stated--this is it. We are giving you this quick influx of funds, and we do not want to have it come back with amendments.
We can put off the Bond amendment. We have time to deal with it. I praise Senator Bond for continuing to raise this matter before us because we do have to take care of it. Let's just get it straight. When people come down to this floor and rail against deficits and rail against the debt, just remember that little simple piece of history that is documented, that President Clinton left President George W. Bush a surplus as far as the eye could see and a debt going down. Now the other side of the aisle claims our President is not moving fast enough on all these fronts. Let me assure my colleagues our President cares a lot about the financial future of this country. He has two little kids. He knows exactly what their burden is. I do not believe that fiscal responsibility belongs to the other party because it was our party, under Bill Clinton, that got this country in the best financial shape it was in for decades. It only took a few short years to see all that go out the window.
Let's not lecture each other. If they continue to do it, I will just continue to bring up the facts. But, again, I see Senator Bond is here. I am going to repeat what I said before he got here. I complimented the good Senator because I think he is totally right on his amendment. However, I do know if it is attached to this bill what will happen because the House has told us. They will not take up the replenishment. We risk the highway trust fund running out of funds. I personally will work with the Senator from Missouri and my colleague, Senator Inhofe, to make sure the Bond amendment is part of the reauthorization which we will have to do in September. But I thank him because he perseveres. He brings it up all the time, and it is good that he does so. I support exactly what he is trying to do, but the timing, unfortunately, would undermine the replenishment of the trust fund.
I yield the floor and retain the remainder of my time.
Before Senator Bond leaves the floor, I wanted to thank him for his leadership on this issue. I wanted to assure him and all the people who support this amendment that this amendment will pass. It will not pass today, I do not think, for one main reason. We are fearful of playing these parliamentary games with the House on the highway trust fund.
We have until September 30 to address this issue. My friend is entirely correct, we must deal with this rescission. We have to repeal it and we are going to repeal it. I will work with him to do that.
I simply wished to say that on September 30, when we are faced with our next deadline, the entire bill has to be reauthorized. So it is not only this problem but many other issues have to be addressed. Again, I wish to state this: I am not happy the House sent us this very short extension.
I and I know my colleague wanted to see the highway trust fund extended for 18 months. I think the places we differ have to do with how we pay for the extension. Senator Vitter and all my colleagues who are dealing with unemployment insurance and the rest want to cut funds out of the job-producing stimulus program. I think it is unnecessary.
I also would say to my colleagues who say we are borrowing and we are borrowing to do all this: Simply look at the CBO score which scores this as a positive. The House bill is scored as a positive because of some of the legislative changes in it. Again, I wish to be clear, I will work side by side with Senator Bond. We are going to reauthorize the highway bill. It might be for 18 months. Maybe we can get together and we can come up with a bill for 5 or 6 years. We have to find a funding source to do that. I hope we can. But we will deal with the Bond amendment. We have to deal with it. The Senator is exactly right-- exactly right.
He talks about taking shovels away from workers. The only place I disagree with him is that I think you are taking shovels away from workers by cutting the stimulus. I visited my State. I see people being put to work.
As Vice President Biden said: We have only seen 25 percent of the stimulus money go out the door.
So I also wanted to ask unanimous consent when Senator McCain comes to the floor he wanted some time to speak on the Bond amendment. So I ask Senator McCain be given up to 15 minutes to speak on the Bond amendment.
I yield the floor and I suggest the absence of a quorum.