Floor Statements

Madam Speaker, I rise today to celebrate the retirement of Gary Rooke from the Greater Springfield Credit Union. After 19 years of committed, dutiful and effective employment, I would like to acknowledge the significant contribution made to the lives of the credit union members and employees and would like to place this tribute into the official record.

Madam Speaker, I rise today to pay tribute to Dr. Joseph W. Bascuas for serving as Becker College's interim president and for his promotion of high academic standards.

The Becker College Board of Trustees named Dr. Bascuas as interim president on September 26, 2008. Dr. Bascuas gave his leadership and support to the Becker College community in various ways during his tenure. Specifically, he brought more than 25 years of experience in higher education to Becker College.

During his time at Becker College, Dr. Bascuas strengthened relations with the local community, encouraging the investment of college resources to the benefit of the local community. Specifically, he effectively emphasized new collaborations with the Town of Leicester Public Schools and championed the college's plans to transition part of the landmark Reverend Samuel May House into a visitor center for the town. On a personal note, I appreciate his interest in promoting civil rights and his personal invitation to address students on this important chapter of our nation's history and served as the commencement speaker for the graduating class of 2010.

Becker College is a unique New England college. The institution, which traces its history to 1784, is comprised of two separate campuses only six miles apart, one in Leicester and the other in Worcester, Massachusetts, each with its own dormitories, library, dining hall and academic facilities. The college serves more than 1,700 students from 18 states and 12 countries, and offers more than 25 diverse, quality bachelor degree programs in unique, high-demand career niches ranging from nursing and equine management to computer game design and a variety of adult learning options.

Prior to serving as interim president at Becker College, Dr. Bascuas served as president of Medaille College, Buffalo, NY, a private institution that offers undergraduate and graduate degrees, from 2002 through 2006. Dr. Bascuas successfully took Medaille through an accreditation and strategic planning; completed a $2.4 million capital campaign; nearly doubled revenue and undergraduate freshman to sophomore retention; and increased overall and undergraduate enrollment as well as the number of resident students. As founding president of Argosy University Atlanta, GA campus, Bascuas spent 12 years with the Argosy Education Group. During his tenure, the Argosy corporate entity grew from 3 to 13 campuses, offering undergraduate and graduate programs in business, education, and psychology, two law schools, and one technology-focused school. Dr. Bascuas also increased enrollment and revenues at all campuses, introduced new programs at five campuses, and hired presidents at two campuses. Previously, Bascuas has held administrative and teaching positions at the Georgia School of Professional Psychology, Antioch University, Nova/Southeastern University and Salve Regina University. He has held a number of positions with professional boards and associations, most recently as site visit team chair for the Middle States Commission on Higher Education, and he has served on the National Collegiate Athletic Association Division III Presidents Council. Dr. Bascuas has written and co-authored numerous papers on psychological topics and has presented at symposia and conferences. He received a B.A. from LaSalle University and an M.A. and a Ph.D. from Temple University.

Mr. President, I again thank Dr. Joseph W. Bascuas for his great contributions to Becker College and the Town of Leicester. I ask my colleagues to join me in wishing Dr. Joseph W. Bascuas all of the best in his future endeavors.

I thank the gentleman for acknowledging me.

I stand in support of this legislation. I had not intended to offer any rancor or any response to the other side, but when I have heard the rhetoric of the last couple of speakers, I must tell you, it kind of goes like this: The people that set the fire are now the ones calling the fire department.

What they inherited when Bill Clinton walked out the door was a $5.7 trillion surplus. When they talk about fictitious theology, how about tax cuts paying for themselves? That is why we find ourselves where we do.

Until Mr. Camp qualified the remarks of Mr. Heller, not one Republican speaker mentioned unemployment benefits. That is what this is about at this moment. There are 435 of us here, and all 435 would have done this differently, myself included. However, that is not the option as you address unemployment benefits which begin to expire next week. That is the cornerstone of this undertaking.

One of my papers opined this morning that the cost of human inaction is intolerable. Thousands of working families will lose their benefits if we don't undertake this action.

Job-creating incentives are in this legislation. I know. I have helped to author them and write them. The Build America Bonds campaign, any Member of this House can go back home with a sense of pride and satisfaction as they witness the implementation of the Build America Bonds initiative.

This bill protects Private Activity Bonds from the onerous Alternative Minimum Tax, lowering costs for State and local governments that use the bonds for airports, school loans, and other essential needs. Take this to an advertisement in your local paper, where it says relief from Alternative Minimum Tax, and take it to the airport that is being expanded. They have utilized that opportunity.

New Markets Tax Credits. I have been in the middle of it, and we protect them from AMT to promote investment in low-income neighborhoods.

That is what this legislation is about today.

I want to thank the chairman for yielding this time.

Mr. Speaker, we have had an opportunity over the course of the last many months to witness the unprecedented goodness and kindness of the American people. Time and again in rising above the petty differences that frequently keep us in dispute within this institution, we have asked no question of political party or affiliation. We have watched former Presidents of the United States who sharply might disagree on a host of issues to lead an effort to help the people of Haiti to get through this difficult time caused by the consequences of this devastating earthquake.

But throughout all of these measures, you're struck by de Tocqueville's notion of what set America apart from the rest of the world. And de Tocqueville, as you know, in finding it challenging to describe what it was that differentiated America from the rest of the world, he simply described it as a ``habit of the heart.'' And today I think this institution with this proposal that's in front of us embraces again that American notion of the decency of habits of our heart.

This Haiti-HELP Act provides crucial additional trade preferences to help out our Haitian friends to rebuild their economy and lives in the wake of this devastating earthquake.

I want to particularly commend the trade staff and industry for quickly collaborating on this legislation, which also provides important protections for sensitive domestic products while improving existing preference provisions. It also provides a long-term extension for the Caribbean Basin and HOPE programs that are key boosters to the Caribbean-U.S. relationship.

Mr. Speaker, this legislation deserves our full support, and I look forward to improving the economic and cultural ties with Haiti in the years ahead.

Madam Speaker, I want to thank the chairman of our committee, and I rise in support of the Small Business and Infrastructure Jobs Tax Act. As a former mayor, I am pleased that this bill contains a number of infrastructure tools to lower the costs for State and local development.

Let me put to rest the argument here that there was no cooperation on this bill. Mr. Ryan, a prominent Republican on the committee, and I supported legislation that would exempt private activity bonds from AMT. And it's working. The U.S. Department of Transportation cited this provision as saving $635 million for construction projects at 38 airports around the country, including Cleveland, Milwaukee and Houston, among others. We don't check those airports to find out if they have a Republican Congressman or a Democratic Congressman. We think they are worthwhile undertakings.

These construction projects have created thousands of jobs nationwide at a time that our economy really needs

them. In my office, if you want to secure the information, we would be happy to provide you with the information about airport expansion which in many communities is a public and private partnership, but they have taken advantage of this initiative. These bonds are also used for student loans, and protection from AMT means lower rates on borrowers. In Massachusetts alone, 26,000 students will benefit.

The bill we are debating today also includes a provision offered by, yes, my friend Mr. Tiberi and I. We want to protect the New Markets Tax Credit from the AMT, a reasonable undertaking, a reasonable provision. Since its inception, this program has generated over $15 billion of private sector investment in some of the poorest communities in this country. I will repeat. Mr. Tiberi and I sponsored this provision. Mr. Ryan and I have cosponsored provisions here. Protection from AMT means financing costs are lowered, freeing up greater investment for struggling neighborhoods.

And I want to submit, Mr. Chairman, and to the Speaker as well, there is not a Republican mayor in America who would be against the provisions that are offered here.

Madam Speaker, this is a most significant day. Health insurance reform has been coming for a long time, and we are finally here. With passage of this bill, American families are going to take back control of their health care.

This bill bars insurance companies from discriminating based on preexisting conditions. It caps out-of-pocket expenses. Half the bankruptcies in America are due to health-related matters. This bill allows individuals and small businesses to purchase affordable insurance from competitive marketplaces. It contains cost controls that will save the taxpayer $138 billion over the next 10 years. And for parents that are watching tonight, your dependents can stay on your insurance until they are 26 years old.

Nobody has defended Social Security and Medicare the way I have in this institution. And I must tell you tonight, I can't believe anybody who is witnessing this debate would believe for 1 minute that our Republican friends have been better in history on Medicare than we have been. It is in our DNA. This is a defining moment. The exclusionary and discriminatory tactics that exist in our current system tonight become history as well.

Madam Speaker, I rise today to express my disappointment and dismay with AIG's decision to pay $100 million in bonuses to executives. These are not just any employees but those from the financial products division, the same group that created the flimsy derivatives that caused such a catastrophe for our economy in late 2008.

With taxpayer dollars allowing to keep AIG afloat and ordinary Americans facing 10 percent unemployment, I don't know who would have thought this announcement would be well-received by the American people. It may be that these bonuses were legally obligated before the AIG crash, but I'm sure that all the brainpower that created AIG's complicated financial products can figure out a way, as the American people would, to simply say ``no.''

Madam Speaker, it is my great pleasure to rise today to honor Springfield College, celebrating its 125th anniversary this year, and known worldwide as the Birthplace of Basketball.

Springfield College was founded in 1885 in Springfield, Massachusetts, as the School for Christian Workers, an independent institution that quickly emerged as a leading educator of YMCA professionals. Today, it offers a comprehensive array of undergraduate and graduate offerings and has an international reputation for educating leaders in the health sciences, human and social services, sport management and movement studies, education, business, and the arts and sciences.

Since its beginning, Springfield College has been guided by a philosophy called Humanics--education of the whole person, in spirit, mind, and body, for leadership in service to humanity.

Springfield College faculty members and alumni have changed the course of history in sports, physical education, and fitness. They invented not only basketball, but also volleyball, and were instrumental in founding physical education movements in countries around the globe. They have been legendary coaches, and have been in the vanguard of advancing intercollegiate sports for women. They have made indelible marks on the modern Olympics--more than 120 Springfield Collegians have participated as coaches, athletes, trainers, sport psychologists, administrators, and more.

In Greater Springfield, Massachusetts, Springfield College is deeply committed to its community, and has received national recognition for exemplary community engagement. It has been named to the President's Higher Education Community Service Honor Roll and the Saviors of Our Cities list of the top 25 ``best neighbor'' urban colleges in the United States. It has received multiple awards from the National Association of Division III Athletic Administrators and Jostens, and has earned the Carnegie Foundation's Community Engagement Classification.

Madam Speaker, I ask my colleagues to join me in congratulating Springfield College on 125 years of excellence and leadership through service, and for being an institutional model of its Humanics philosophy.

Madam Speaker, I rise today to extend my personal congratulations to Nicholas Young who was recently named superintendent of the year by the state superintendents' association. I would like to express my gratitude for Mr. Young's hard work, dedication and leadership.

Mr. Young has served with distinction as the superintendent for the Hadley Public Schools for nine years and continues to be an exemplary educational leader.

Nicholas Young is a very active citizen as he serves as president of the state superintendents association and has previously served as president-elect and vice president. He is also the acting chairman of the state Task Force on Small and Rural School Districts and a member of the state Professional Development Committee and the state Legislative Committee.

We join with Mr. Young's family, friends, colleges and students as he is honored next month at the National Conference on Education in Phoenix, Arizona.

Nicholas Young named Mass. Superintendent of the year

(By Diane Lederman)

The program is part of the American Association of School

Administrators National Superintendent of the year awards.

In a statement, Thomas Scott, executive director of the

state association, stated that Young ``is an exceptional

educational leader. In addition to his many accomplishments

in the Hadley Public Schools, he has been an exemplary model

for his colleagues throughout the state, influencing state

policy through active research and providing comprehensive

and cutting-edge professional development programs.''

Young, who has been superintendent here for nine years,

said he was pleased and proud to be recognized.

He said it was good for the community anytime someone is

recognized in town--be it he or a teacher or administrator.

``It highlights the town having a top-notch school

system,'' he said.

Young is president of the state superintendents association

and had previously been president-elect and vice president.

He is also the chairman of the state Task Force on Small

and Rural School Districts and a member of the state

Professional Development Committee and the state Legislative

Committee.

In 2008, he was one of 158 educators from across the

country selected to participate in the Japan Fulbright

Memorial Fund Fellowship, spending more than two weeks in

that country.

Young and the other state winners will be honored next

month at the National Conference on Education in Phoenix,

Ariz.

The national winner will also be announced then.

Madam Speaker, I yield myself such time as I might consume.

Madam Speaker, I rise in support of the debt limit legislation we are considering today, and I want to thank Mr. Rangel for his hard work on the bill in the waning days of the Congress this first session.

Let me talk about what the bill does. This bill is simply about continuing operations for the Federal Government. That is the title of the legislation. ``Continuing operations'' means getting the Social Security checks out on time, an almost sacred duty that we have. This means providing support for our troops and keeping our museums and our parks open. That is what an increase in the debt limit will allow. Simply stated, this is about bills that have already been incurred.

Now, I will, during my time here, resist the temptation to become overly

partisan and speak specifically to the issue that is in front of us until there is a misstatement of the facts in opposition.

What this bill does not do is increase or decrease spending. That is a key consideration. Those decisions have already been made through the regular order. Let me emphasize the following: This bill does not raise nor does it cut taxes. That is different legislation. I respect the opinion of all Members here--who, by the way, my hunch is have been on all sides of this issue during their time here in the Congress. But we all desire the same, and that is to bring our budget into balance with the future. Beyond that, there is broad agreement. But this bill is simply paying the check after the items have already been ordered. This bill would raise the limit by $290 billion, which is estimated to allow the government to operate through February 11 and allow us to adjourn for the year.

Despite what some might say, the Treasury Department will reach the current limit on the national debt by December 31, and they have told us that there is no ability to do extraordinary measures that will, indeed, stretch that out.

Now, I hope that the offering that I make to resist demagoguery on this issue will be met. If not, we certainly will have an opportunity during the course of the next hour to slug it out based upon the facts, and I hope that we will regard Social Security and veterans bills that have already been incurred to be paid. We certainly can have moments of instructions here--we're all indeed prepared for that on all sides--but I hope that the opportunity to resist the temptation to dismiss the reality of what we're doing here will be before all of us.

I reserve my time.

Madam Speaker, I would like to yield to a voice of fiscal responsibility here in the House, to Mr. Boyd, the gentleman from Florida, for 2 minutes.

I yield the gentleman an additional 1 minute.

Madam Speaker, before I come to my friend's comments, I want to yield myself such time as I might consume.

Madam Speaker, I spoke with Chairman Rangel earlier, and it is our intention, as we did this month in passing the Tax Extenders Act of 2009, to make sure that those provisions hold. That bill contains a 1- year extension of dozens of important expiring provisions, including the popular R&D credit, the sales tax deduction and the college tuition deduction, among many others.

We are now hearing the Senate may not take up this provision, or provisions, and pass the bill before they expire on December 31. It is our intention to insist upon the House position and to work to ensure that our bill providing a seamless extension of these tax benefits will be enacted as soon as possible in the new year.

These provisions are crucial for both American business and individual taxpayers, and I am pleased that we were able to get the House to pass this bill before the year concluded, but it is disappointing that the other body will not be able to take it up this year. It is our goal, however, to ensure that this bill will provide a seamless extension when enacted based upon the House measure.

Madam Speaker, I want to thank Mr. Pence because I thought that the tone of what he offered was entirely reasonable because he didn't pass out partisan blame in the instance that brings us here at this time. But a gentle reminder, I don't know how you could have voted for the war in Iraq and not vote now to pay the bill, because that's part of what we are being asked to do today. I understand how difficult this is, why it causes heartburn. But having said that, how can you say that you were willing to commit 160,000 soldiers to Iraq, and when the bill comes due, not pay it? That essentially is the argument that is in front of us today.

And I understand the arguments about those American families who are having a difficult time as we proceed to this holiday season, and we want to be as helpful to them as we can. And as they gather around the kitchen table to talk about the problems they have, we understand that we want to provide as much support for them as we can. But let's not forget the Social Security recipients who are currently sitting around the table as they watch this debate, wondering if their checks are going to be mailed to them on time at the first of the year.

With that, I reserve the balance of my time.

Madam Speaker, at this time, I would like to yield 4 minutes to my friend, the gentleman from Tennessee (Mr. Tanner) who was my classmate here 21 years ago and is, in my judgment, as thoughtful as any Member of this House on the issues of the national debt.

I yield the gentleman 2 additional minutes.

Madam Speaker, I yield 3 minutes to my friend, the gentleman from New Jersey (Mr. Andrews).

(Mr. ANDREWS asked and was given permission to revise and extend his remarks.)

Madam Speaker, I yield the gentleman from New Jersey 1 additional minute.

Madam Speaker, I yield 2 minutes to the distinguished chairman of the Ways and Means Committee, the gentleman from New York (Mr. Rangel).

(Mr. RANGEL asked and was given permission to revise and extend his remarks.)

Madam Speaker, might I inquire as to how much time remains on both sides?

I reserve the balance of my time.

Madam Speaker, I yield 2 minutes to my friend, the gentleman from New York, a voice of good sense on the issues of debt, Mr. Crowley.

Madam Speaker, I will remind the gentleman it wasn't a liberal sitting in the White House who decided to invade Iraq for which the costs have now come due.

I reserve the balance of my time.

I yield myself 1 minute.

Madam Speaker, this is not a cheery time for the American people. This is a very difficult time. A reminder: The legislation in front of us now is to pay for the war in Iraq, to pay for the war in Afghanistan, to pay for our veterans' hospitals, and to pay for next month's Social Security recipients to receive their checks on time.

I reserve the balance of my time.

I yield myself 30 seconds.

Madam Speaker, the war in Iraq is going to cost more than $1 trillion. The VA hospital commitment that we are going to make for the next 30 years to our well-deserving veterans is going to cost an additional $1 trillion. That is the issue that is before us this afternoon.

I reserve the balance of my time.

Madam Speaker, I reserve the balance of my time.

Mr. Stearns is, indeed, my friend, and we are classmates.

Madam Speaker, he conveniently left out those 4 years when Bill Clinton left a balanced budget to America, when the deficits were eliminated and when the debt was coming down. That's the key consideration here as we begin this debate. Indeed, this is about paying for our veterans' hospitals, paying for the war in Iraq, paying for the war in Afghanistan, and making sure that those Social Security checks get out on January 1.

Madam Speaker, I reserve the balance of my time.

Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and to include extraneous material on H.R. 4314.

Madam Speaker, pursuant to clause 7 of rule XX, I move a call of the House.

Madam Speaker, I would like to reserve the balance of my time.

Madam Speaker, let me recognize for 1 minute the Majority Leader, the gentleman from Maryland (Mr. Hoyer), a voice for fiscal reason in this institution.

Madam Speaker, I urge adoption of the resolution and yield back the balance of my time.

Madam Speaker, I rise today to introduce legislation to promote American jobs. Over 30 years ago, Congress worried that a few industry giants would dominate the domestic beer industry, squeezing out local and regional brewers. In response, Congress reduced the tax rate on beer produced by small brewers. That differential has led to the creation of thousands of craft brewers, who are small business owners and employers in our communities. However, the consolidation at the top of the market has continued.

Mr. Speaker, I yield myself such time as I might consume.

Mr. Speaker, I guess Mr. Camp, who is my friend, wasn't referring to me when he talked about the Democrats who didn't like tax relief. They forgot about the idea that I was the lead sponsor on the net operating loss bill, and have supported accelerated depreciation allowance, and believe that there are some tax cuts, in fact, that are better than others. And, at the same time, I think we could all find unity in the suggestion today that one thing we've discovered is that tax cuts really don't pay for themselves.

But I rise in support of this extenders legislation that we're considering today, and certainly Mr. Rangel should be acknowledged for the hard work that he has offered on this legislation. There ought to be an opportunity here for us, Mr. Speaker, to find some common ground. There are many, many, many good parts of this legislation that I know our friends on the other side support.

There are provisions here in the bottom of the ninth inning, with two out, that are expiring; and we need to give some predictability to decisions that will be made by businesses and individuals over the course of the next year. And this is going to be the last chance that we're going to have to do it this year.

This bill contains extensions of many popular incentives. For my home State of Massachusetts, this bill means that 94,000 teachers will get a deduction for their out-of-pocket expenses for classroom supplies, no small matter.

It means that more than 1,000 businesses in Massachusetts will get some credits for the millions they spend on research here in the United States. A reminder, the research and development tax credit is in this bill, and it is critical to retaining American jobs. Without this bill, 125,000 families in Massachusetts cannot take the deduction for college tuition expenses. This legislation provides significant tax relief to millions of families nationwide both in red States, purple States, and blue States.

There are 12 million families nationwide who live in States with no income tax; however, this bill does provide a State sales tax deduction.

This bill also includes a number of popular tax incentives for alternative fuels. There are also packages of tax benefits to assist distressed communities and those hit by natural disasters. There are many well-crafted provisions in this bill. There's not really enough time to address all of them.

This bill does no harm to the Federal budget. The cost of these cuts is completely offset by two revenue raisers, one of which I have offered and authored, and I know there is broad support across America for that issue. This is the Foreign Bank Account Reporting bill, which will shut down abuses by wealthy taxpayers hiding money in overseas banks.

And for the life of me, I can't understand why everybody in this institution is not supportive of this measure. Transparency is important. 160,000 soldiers in Iraq, about to be 160,000 soldiers in Afghanistan, and we have taken our sweet time by not cracking down on these tax evaders who don't want to pay their fair share at the same time that we had these extensive commitments around the world. I'd like to poll that question in any congressional district in America. We have taken the comments of those who are impacted and we have made this reporting regime a workable enforcement tool in this legislation. Again, you should not be hiding money in foreign bank accounts for the sole purpose of avoiding American taxes.

The second offset is a carry interest proposal which seeks to ensure investment managers pay taxes on their earnings as income tax rates rather than capital gains.

Let me also suggest that Mr. Rangel has crafted a balanced bill. Again, I will repeat, it does no harm to the Federal Treasury. He has included a directive to the nonpartisan and, I think, highly effective and professional Joint Committee on Taxation to review the effectiveness of all of these extenders so that we could begin in earnest our effort to reform the Tax Code.

I certainly am supportive of this measure. I hope it will find broad support across this institution.

With that, I reserve the balance of my time.

Just before I recognize my friend from Michigan, I want to remind my friend from

California there are 320,000 teachers in his home State who will not get a tax benefit if this legislation does not pass, 571,000 families will not be able to deduct higher education costs, 1.2 million families will not be able to deduct home State sales taxes that they currently pay, and 4,000 businesses in a State that is so dependent upon high technology in California will not be able to get the credit for their crucial research and development costs.

With that, I yield to my friend from Michigan (Mr. Levin) for 3 minutes.

(Mr. LEVIN asked and was given permission to revise and extend his remarks.)

I yield the gentleman an additional 30 seconds.

Mr. Speaker, a reminder that there are 303,000 people in the State of Texas who will not be able to deduct their higher education tuition costs. That is for the State of Texas a $690 million benefit.

With that, I would yield 30 seconds to the gentleman from Vermont (Mr. Welch).

Mr. Speaker, since the gentleman was concerned that I was picking on teachers, let me raise this point. There are 2,274 businesses in his home State of Illinois that will not be able to get a credit for their crucial research and development costs, a $23 million benefit.

And with that, I yield 2 minutes to the gentleman from North Carolina (Mr. Etheridge).

(Mr. ETHERIDGE asked and was given permission to revise and extend his remarks.)

Just reminding him of those numbers. I yield myself as much time as I might consume.

In response to my friend's, Mr. Roskam's, argument here about these tax proposals being made permanent, I don't understand how the other side could have been witness to borrowing billions and billions of dollars for Iraq and not having had the courage to speak to the issue of transparency and allowing the American people to see what Iraq was going to cost.

In addition, remember, they talk about fiscal responsibility? They cut taxes six times while committing 160,000 soldiers to Iraq. On January 19 of 2001, they inherited an almost perfect economic picture: unparalleled economic growth, the deficits had been paid off, the debt was coming down. And do you know what? To show you my bipartisan position here, let's give Bush I some credit for that, having had the courage to do it, and Clinton twice. It was the recklessness that the other side embraced that now we have to pay for.

And this bill today, as unpalatable as some of them might argue that it is, it's paid for. We square this issue with the American people. This legislation is paid for.

Let me yield 2 minutes to the very important member of the Ways and Means Committee, the gentlewoman from Nevada (Ms. Berkley).

I yield the gentlewoman 30 additional seconds.

Mr. Speaker, might I inquire as to how much time remains on both sides.

Just before I recognize the gentleman from Illinois (Mr. Davis), I hope that my friend Mr. Camp will have a chance--he spoke to one provision of the pay-for. Maybe he will speak to the issue of tax evasion as to whether or not he supports the $8 billion that's being raised in this legislation to pay for this bill.

With that, I would like to recognize the gentleman from Illinois, my friend, Mr. Davis, for 2 minutes.

(Mr. DAVIS of Illinois asked and was given permission to revise and extend his remarks.)

Mr. Speaker, we are trying to just assess how much time is here, if you will give me a second.

Mr. Speaker, I would like to recognize the gentleman from Michigan (Mr. Levin) for 3 minutes.

(Mr. LEVIN asked and was given permission to revise and extend his remarks.)

I yield the gentleman an additional 15 seconds.

I would like to yield to the gentlewoman from the Virgin Islands (Mrs. Christensen) for the purpose of a unanimous consent request.

(Mrs. CHRISTENSEN asked and was given permission to revise and extend her remarks.)

Mr. Speaker, I yield myself 2 minutes.

There is an opportunity here today to begin the discussion of fundamental tax reform. If we could move past the ideology that is so rigid, where we can only discuss cuts and never revenue or, on the other side, only revenue and never cuts, then we could move this debate and discussion forward.

Now, the other side today, they are suggesting to the American people, we like the R&D tax credit. We like teachers. We like tuition assistance, and what we are saying on this side is we like all of those institutions as well, but we think they should be paid for. Sometimes you have to eat the broccoli before you have your dessert.

Tax reform is an opportunity. I hope that the strategy that got us into this difficulty--remember the old argument here that tax cuts pay for themselves? You couldn't even get our friend who ran for President on the Republican ticket last year to have his top economic adviser say that was true. That's part of the problem here, being married to rigid ideology as opposed to common solutions that might make this work for the American people.

I reserve the balance of my time.

My friend from Texas conveniently left out TARP I, which was a Bush initiative; conveniently left out the cost of the Iraq war, which was borrowed money; and conveniently left out the Bush tax cuts, which cost $2.3 trillion that only went to people at the very top of the economic strata of America.

I reserve the balance of my time.

Mr. Speaker, at this time I would like to yield the balance of my time to the chairman of the Ways and Means Committee, my friend, the gentleman from New York (Mr. Rangel).

Mr. Speaker, I make a point of order that the motion before us is in violation of clause 10 of rule XXI of the rules of the House.

Mr. Speaker, I move to table the motion to appeal the ruling of the Chair.

Mr. Speaker, if it were up to me, this would not have been done the way it is playing out today. I believe that this issue should be taken up in the context of tax reform, which the Ways and Means Committee and the House should visit next year, but it is what it is.

But the most important reminder here today for all of us is this: This is not the House of Lords. This is not about peerage. This is not about, in America, being born to any class or any race that offers superiority. This is not permanent wealth. This is not the argument that because of your last name, you ought to be entitled to a special privilege in what is the most egalitarian society that the world has known.

But the truth is that the extension that we are offering today takes us down the path to reform, and that is where I hope we end up. We need the certainty as to estate tax rules come

January 1. If we let the current rules expire, there will be estates that are harmed by a loss of step-up in basis. This pits the ultrarich--who, by the way, are the ones who seek repeal--against the moderately rich who we attempt to assist here in this step-up in basis.

But I want to quote Warren Buffett on the issue of estate tax. And, incidentally, he was cleverly left out by the other side as they ascribed responsibility for repeal of the estate tax. Warren Buffett said, ``Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline. A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy.''

This body is a reflection of meritocracy in American society. It is unlike other legislative institutions in other parts of the world. You get here largely on merit.

I am going to close on the note on which I opened: This is not the way I would have done this, but I do think that Mr. Pomeroy has made a valiant effort to find some middle ground as we proceed to next year.

This legislation makes permanent the current estate tax rules that include a 45 percent rate and a $3.5 million exemption for individuals and $7 million for couples. It achieves a middle ground among the various proposals offered, and it helps allow for tax planning certainty.