Mr. President, I rise to talk about an amendment I plan to offer when the opportunity presents itself. My amendment establishes a reserve fund for national and homeland security. My amendment is cosponsored by Senators Conrad and Schumer…
Mr. President, I rise to talk about an amendment I plan to offer when the opportunity presents itself. My amendment establishes a reserve fund for national and homeland security. My amendment is cosponsored by Senators Conrad and Schumer as well.
This budget reminds me of a movie I saw some time ago, not intending to present any humor, but it is precise in what it says: ``Show Me The Money.'' Everyone understood immediately what they were talking about. Here we are, searching for the money to pay for our defense needs and the war with Iraq. It is nowhere to be found.
I was the ranking member of the Budget Committee for several years. There is one thing you learned on that committee, simply wishing for money does not make it appear. This must come as a shock to people who in their regular lives try to set money aside for future expenses such as mortgages or tuition or rent or real estate taxes. We all have to budget for our critical needs.
The war with Iraq has started. We see the pictures of our troops and you wonder how they put up with the heat and the dust, the threat to their lives, the ominous presence, perhaps, of chemicals or biological weapons. There is plenty to think about. But for God's sake, we ought to think here about how we provide the money to prosecute that war. It has to sound strange to people listening to what is said in the Senate this morning.
We have an obligation to tell the American people how much and where the money is going to come from to finance the war and to finance our domestic security needs. At critical moments in history such as this, we ought to be truthful with the American people about what it is we are doing.
The truth is, this budget does not provide the funding to prosecute our war with Iraq. It is a simple equation. We are shortchanging national security spending and the costs of the war in order to protect a tax break, largely for the wealthiest.
I want people to understand. We are going to prosecute the war, and we are going to do it fully, but we ought to tell the truth to the American people about how we are going to pay for it. The money to pay for this war is not provided in any place we look. It is a tax cut that people understand is going to the wealthiest among us. I want everyone to know the money that would be used to prosecute this war is going to go to another priority; that is, a tax cut for the wealthiest. A tax cut that,
as we heard from the Senator from North Dakota, a tax cut people with wealth typically do not need, and I can tell you most of them do not want it when they recognize it comes from the very foundation of our strength in this country.
The Senate GOP plan ignores the cost of war. We are going to look at a supplemental, which is in addition to the budget, that was not planned for. But with less than a wink of an eye, everyone knows the war otherwise will not be prosecuted out of the funds available for the Defense Department. That is what we are looking at. From $60 billion to $95 billion is expected to be requested in a supplemental plan. The present Senate budget plan does not provide for any of it.
My friends in the business world are people who run big companies, some of them little companies, but they run organizations and they know how important it is to fund your critical needs.
My amendment corrects a major problem with this budget. My colleagues may not realize that the Senate Republican budget resolution actually cuts defense spending by $103 billion below the President's request.
We have heard a great deal of talk about patriotism from the other side of the aisle. We have even seen it raised in the ugliest of fashions, in an election where a triple amputee who lost his limbs in Vietnam was accused of lacking patriotism and lost the election. Imagine, a triple amputee, a man left with one arm, the legs are gone, one arm is gone, and he is accused of being unpatriotic. Language flows loosely around here at times.
We have heard a lot about putting national security and homeland first above all, and at times when the defense budget was being prepared it was suggested if you challenged it, if you voiced some concern about it, if you questioned the tactic being used, there was an implied criticism that you were not being loyal, that you might be like the French. Talk is loose here.
I served in another war, a long time ago, and they used to have a slogan ``loose lips sink ships.'' Boy, we would not have a lot of ships afloat here.
When you examine the details of this budget, it is apparent that it is tax cuts for the rich that have the highest priority. In fact, this budget cuts national security funding in order to provide those tax cuts to the wealthy.
I had a business career before I came here. Thank goodness for the American opportunity, we succeeded beyond our wildest dreams. We were three poor kids from working-class families in Patterson, NJ. The company did very well. Today a company that we started employs 40,000 people.
Mr. President, it is obvious that a company with that kind of growth, that kind of success, produced some wealth for the founders. It did. And I can tell you I do not want a tax cut for myself and I don't think people in my position ought to have tax cuts right now. America has been good enough to us that we do not need the tax cut. We need a strong country. We need a harmonious population where people know they are being treated fairly and that we are not putting everything else aside so we can give a tax cut to people who neither need it and in most cases don't want it.
There are sleight of hand maneuvers in this budget. If you look at the years 2004 through 2008, the Republican budget projects defense spending at the level requested by the President. But in the last 5 years of the budget window, from 2009 through 2013, the Republican budget resolution actually cuts $103 billion below the levels CBO, the Congressional Budget Office, estimates would be required just to maintain defense spending in real terms at the level the President proposed. During those latter 5 years, where is that missing $103 billion going? The answer is--I don't want to be repetitive, but this is so hard to understand, so impossible to conceive that we have to say it a lot because it does not get through. But maybe, just maybe, the American people will hear this clearly enough to say:
Hey, listen, I have heard some pretty good presentations
this morning.
I am discounting mine. I am talking about others here.
They keep talking about this tax cut for the wealthy.
That is what we are talking about, Mr. and Mrs. American citizen. That is what we are talking about. The tax cut in this bill over 10 years will cost this country $1.4 trillion.
Are we cutting defense for this tax cut? Whom does that help? Let's look at the facts about the President's tax proposal. Almost half of all tax filers, 49 percent of them, would receive tax cuts of less than $100. That doesn't do much for people's standard of living.
The average tax cut for the bottom 80 percent of tax filers would be $226. That is the average tax cut. By contrast, the top 1 percent of tax filers would receive an average tax cut of $24,100. But those who are at the tippy top, with incomes of more than $1 million, would get tax cuts averaging $90,200. That could make a difference in one's standard of living, but not for those folks, they are already living at that scale. That is why I call it skewed towards the wealthy.
As for another part of the tax cut proposal, the dividend tax cut, nearly 70 percent of the benefits would flow to the top 5 percent of our tax filers, and the top 1 percent would receive 46 percent of the benefits--1 percent would receive 46 percent of the benefits, nearly half of the benefit to the top 1 percent.
So the priorities are quite clear: Tax cuts for the wealthy first; national security, when it comes to the money, further down the list. That is just plain wrong.
There is a reason it is being handled that way. I do not suggest lack of patriotism, lack of loyalty, lack of conviction on this war. I just know that in the planning, in the machinations that go toward developing the budget, what happens is someone says: Hey, guys, do you know what happens? If we don't get that tax cut in the total package, we are not going to get it. It is just not going to happen. It's a lot easier to get money for the war, a lot easier to get money for our defense, homeland defense needs. We can get that in supplementals or other places. A tax cut, we had better get that now, while we can.
The President laid out his request for accomplishing these goals. But what did the Senate Republican budget do? It sacrificed funding for national security in order to provide tax cuts for the rich, as I explained. The process took over. To make matters worse, this budget ignores the fact that we have gone to war. Every one of us is glued to the news, whether it is the papers or television or radio or whatever it is; we want to know what is happening with our troops. We worry. We heard about a Black Hawk helicopter that went down. I know I must speak for everybody. We are holding our breath until we learn that those who were carried in that helicopter were rescued.
The White House has told the press that it will happen, that we are going to need the money. Again, I used to be ranking member of the Budget Committee, so I know my colleagues on that committee read the newspaper.
The administration is about to send up a war supplemental request to us of between $60 and $95 billion. It is not in the budget, it is supplemental. It is extra. You can make the case pretty easily. It is one thing to make the case because of the need. It is another thing to make the case because you want to put the funds that are available in a lot of rich persons' pockets.
This war and its aftermath will cost a lot of money. Estimates are that the reconstruction of Iraq could cost $30 billion over 10 years. Every year of Iraqi occupation could cost between $17 billion and $46 billion. As far as this budget is concerned, apparently it doesn't see any of it happening. So we ignore the war in the budget, we cut national security spending. Why? Simply because it seems, in the eyes of the administration, the most important agenda is to provide tax cuts to the wealthiest Americans at the cost of other priorities.
My amendment makes it clear that tax cuts should not take priority over every other need. My amendment restores the 2009 through 2013 national security cuts in the budget resolution. The amendment moves $103 billion in budget authority and $88 billion in outlays into a reserve fund for national security and homeland security. To offset the cost of this critical reserve fund, my amendment simply goes to the tax cut and reduces it by $88 billion during the same period, so we can take that cash from the tax cut--again,
most of it going to the wealthiest--and put it into the most vital need we have right now, and that is to make sure that every penny we can put together to make sure our people in the field, those who are fighting, know we will do everything we must by way of financing to make sure they have every tool available, they have all the protections they need. That is where to put the money.
We are faced with a clear choice. My amendment says our Nation's national security is far more important than tax cuts for the wealthy. I hope when we have a chance to present the amendment, my colleagues will support voting for national and homeland security by voting for the amendment.
In the war I fought in a long time ago, we used to talk to the public about what they had to do to prosecute the war, to provide for our defenses.
This poster shows its age by the way the characters are drawn. It says: ``BUY WAR BONDS.'' I think they were $25 at their least price. It said: Everybody has to kick in. Everybody has to do their share. Do what you can to help us conduct ourselves in our defense as proudly, as forcefully, as we can. That is what it is about.
And here we are ashamed to ask the richest among us to sacrifice their $90,000 on a $1 million income? Wait, make more money. Warren Buffet addressed a group of Senators the other day, and he said: I love paying taxes because every time I pay taxes, it means there is more money left in my pocket. Pretty simple. And that is how we ought to face our responsibilities now: Tell the truth to the American people, I say to my colleagues on the other side. Tell the truth about how you plan to use the money that otherwise would currently be available to prosecute the war.
Maybe we would not even have to do a supplemental. There are times when we are mystified by the arguments presented on one side or the other. I am sure that happens with our Republican friends when it is a Democratic proposal. The fact is, these figures that are generated here have been reviewed by the distinguished committees of people who study budgets as a professional thing, as an organizational commitment. They tell us: Look, all you have to do is look at the lines, look at the years.
Right now, everything looks OK. Get out to about 2007, and you see what happens. The President's budget is one thing; in the Senate GOP plan--that is, the budgeteer's, the majority's plan in the Budget Committee--they have something else. They show they cannot meet the President's number.
The tragedy of this kind of a debate is that we have to confront one another. I believe this is a time when the last thing on the list of priorities ought to be tax cuts going largely to the wealthiest among us.
Let's stand up and do what is right. Let's send all that we have right now: commit it, reserve it, make it such that it cannot be touched anyplace else.
I hope when we have a chance to review the amendment, we will see the thought has prevailed that says: Hey, they could be right on this one. Let's send it all into our defense needs which are so heavy right now.
I yield the floor.