Providing For Consideration Of H.R. 3043, Departments Of Labor, Health And Human Services, And Education, And Related Agencies Appropriations Act, 2008
Madam Speaker, I rise today in strong support of the Conference Report on the Labor, Health and Human Services and Education and Military Construction/Veterans Affairs Appropriations bills. This bill begins to correct key deficits in…
Madam Speaker, I rise today in strong support of the Conference Report on the Labor, Health and Human Services and Education and Military Construction/Veterans Affairs Appropriations bills. This bill begins to correct key deficits in biomedical research, elementary and secondary education, job training, and health care for veterans and civilians alike, and sets out a clear, sustainable vision for the future. I want to thank and congratulate Chairman Obey, Ranking Member Walsh, the Conferees and their staff for putting together such an excellent bill, one which will bring needed relief to so many of our constituents.
The President, of course, has vowed to veto this bill, because he believes it costs too much, that we can't afford to make these investments in cancer research, in Head Start, in economic development. Meanwhile, the President is asking us to spend an additional $200 billion this year alone in his misguided war in Iraq. $9.8 billion, the amount by which this bill exceeds the President's request, would pay for approximately 1 month of that war. Instead, this bill would use that money to help States provide health coverage to people with pre- existing conditions, help college-ready low-income students afford higher education, and help low-income individuals and their families keep their homes warm in the wintertime--a winter-time that could well feature oil at costs in excess of $100 a barrel.
The President says we can't afford to make these investments; I believe we can't afford not to. These are investments which pay dividends over time, investments which will keep America strong, competitive and healthy.
While I strongly support this Conference Report, I would be remiss if I didn't express my concern that this bill includes a $27.8 million increase for abstinence education programs, which research has shown to be ineffective, and worse, often medically inaccurate. Since 2001, we have spent more than $1 billion on these programs, some of which tell our children that using condoms is ``like Russian Roulette,'' and that HIV/AIDS can be transmitted through skin-to-skin contact.
Madam Speaker, teen pregnancy and sexually transmitted infections are serious problems that demand serious solutions. Of course we should want to delay the onset of sexual activity in our children--what parent of a teenager wouldn't want that? But we cannot let that desire blind us to the very real fact that teenagers, despite our best intentions, will and do have sex, and that our wanting them not to does not absolve us of our obligation to protect them and keep them safe.
This money does not exist merely on paper--it is real money which we are borrowing from countries whose interests are inimical to our own, countries that have accumulated sovereign wealth funds at alarming rates over the past 6 years. And we are leaving this legacy of fiscal wreckage to our children, and our children's children, mortgaging away their future at a rate of more than $15,000 per second.
Since 2001, China's accumulation of foreign reserves, mostly U.S. dollars, have increased from $46.6 billion to $1.066 trillion--that is, every new dollar we borrow adds leverage to China--which has profoundly different strategic aims than we do.
The idea that this is a preferable alternative to a bill that would help 95 percent of the people who felt any impact from its passage is unconscionable. The idea that we should sacrifice the futures of our children and our grandchildren in order to have our cake and eat it too, to continue giving enormous tax preferences to the richest of the rich in this country is morally bankrupt and fiscally unsound.
Madam Speaker, income is income. Even if we accept that there should be a distinction between the taxation of labor and capital income, income received as payment for the service of investing other people's money is not capital income under even the loosest of possible understandings. The idea that a hedge fund manager earning $500 million a year should be taxed at a lower rate than his secretary, who earns $40,000 a year is preposterous in both moral and economic terms and should embarrass us all. I know it embarrasses me, and that it embarrasses my constituents.
This bill is about making a choice between what is right and what is easy. I applaud Chairman Rangel for standing firm in the face of overwhelming pressure to do the easy thing, for drawing a line in the sand and demanding that we pass a bill which is true to our principles. We were not elected to make easy choices--we were elected to do right by our constituents, their children, and their children's children. I am proud to support this bill today, and I urge my colleagues to do the same.