Legislative Program
Mr. Speaker, I yield to the gentleman from Maryland, the majority leader, for the purpose of announcing next week's schedule. I thank the gentleman. Mr. Speaker, as the gentleman knows, the Democrat congressional stimulus bill will add…
Mr. Speaker, I yield to the gentleman from Maryland, the majority leader, for the purpose of announcing next week's schedule.
I thank the gentleman.
Mr. Speaker, as the gentleman knows, the Democrat congressional stimulus bill will add nearly $1 trillion to the Nation's debt. That is roughly $2,700 in additional debt for every man, woman and child in the United States. Republicans are hopeful, Mr. Speaker, that this stimulus bill will be considered openly so as to ensure there is no waste of taxpayer dollars.
Unfortunately, Mr. Speaker, the public has not been given an extra day to review the congressional Democratic proposal prior to committee consideration. Further, committees are rushing as we speak to consider their respective portions of the bill, completing markups in a single day.
Mr. Speaker, as has been announced, we are going to be hastily considering the bill next week. I would ask the gentleman from Maryland, will all Members and the American people be given 48 hours to review the committee report prior to a vote next week as the House rules dictate?
I yield.
Mr. Speaker, I thank the gentleman for his response. I appreciate the spirit in which he responds to the inquiry and will set aside the supposition that perhaps we have to rush because of some policies that were in place over the last 8 years and would point out to the gentleman that, again, it is his party that has served in the majority over the last 2 years building up to the current situation that we are in.
But I would ask the gentleman, specifically does he know what day the actual stimulus bill will be considered on the floor of this House?
I yield.
I thank the gentleman.
Mr. Speaker, President Obama has actively solicited Republican ideas to be included in his stimulus package. I would like to ask the gentleman from Maryland, and I yield to him to respond to the question, will congressional Democrats allow all ideas to be considered as amendments on the House floor without restriction?
I yield.
I thank the gentleman.
Mr. Speaker, I would just respond by saying that perhaps because of the expedited nature of the process, given the severity of the crisis, that we would have an opportunity to change that tradition and open up Ways and Means bills. But I accept the gentleman's response, although I may not agree with the outcome.
Mr. Speaker, President Obama has asked that 40 percent of the stimulus bill be reserved for tax relief. Republicans agree on the need for fast-acting tax relief for families and small businesses. Unfortunately, it seems the Democrat majority in its proposal includes far less tax relief than what President Obama requested. Some estimates say there is only 10 percent tax cuts. The estimates that I have had that seem reasonable and accurate is that there is only 33 percent of this proposed bill that includes tax cuts and the rest, the 66 percent, is just pure government spending.
I'd also note that the nonpartisan Congressional Budget Office reported that less than half of the spending on infrastructure in the congressional Democrat proposal will be spent by the end of 2010. That hardly seems stimulative. By contrast, Mr. Speaker, our position would be tax cuts can have an immediate impact.
So I would like to ask the gentleman from Maryland, the majority leader, will Democrats allow amendments to be considered for a vote on the floor that increase the tax relief in this bill, as President Obama has requested?
And I yield.
I thank the gentleman.
It's my understanding that the President has said he expects Washington to act differently, that we should and owe it to the public to have an open and transparent process, up-or-down votes in the light of day. That's simply our request, Mr. Speaker, that we be given an opportunity to propose and vote on our tax relief. Obviously, there are differences in what types of tax relief are appropriate in terms of a stimulus bill, and that's being the spirit of my question.
Mr. Speaker, the House just voted to stop the administration from spending another $350 billion in bailout funds. However, I would like to clarify the outcome of that vote for the people that elect us. Last week the Senate voted to allow the additional $350 billion to be spent. Therefore, the House and Senate are in disagreement about whether the $350 billion should be spent or not under the TARP program.
So I would like to clarify, even though the House voted against the $350 billion, the administration will still be allowed to spend that money. And I would ask the gentleman, is that correct?
And I yield.
I thank the gentleman.
I thank the gentleman.
Mr. Speaker, yesterday the House passed a bill to provide further restrictions on this next $350 billion that, as the gentleman points out, the Senate has approved. Yet it is my understanding that the Senate has no intention of taking the House bill that was passed out yesterday.
So I would like to ask the gentleman, do you expect the bailout restrictions as passed by the House yesterday to become law?
I thank the gentleman.
Mr. Speaker, I'd just like to say in closing that I would hope that the standard of transparency and openness that should be applied to the expenditure of the TARP moneys can be applied to the conduct of the proceedings of this House over the next 2 years during the 111th Congress. I think we owe it to the American people. We owe it to the American people to know what the Members that they elect are doing, what they're voting on, which is why I again say to the gentleman I hope that the proceedings next week on this unprecedented amount of money in the bill that is currently being marked up, this unprecedented amount can come to this floor in the most open, transparent way possible, giving the minority, the Republicans on this side of the aisle, the ability to make their proposals known, to have votes on those ideas because, after all, that is the spirit in which we would like to work not only with the gentleman and his party but certainly with the new President.