Senate Proceeding 04-02-09 on Apr 2nd, 2009 :: 1:53:30 to 2:13:30
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1:52:15 to 1:53:30( Edit History Discussion )
Speech By: Joseph Lieberman

1:53:26 to 1:53:30( Edit History Discussion )

Joseph Lieberman: our soldiers and their families -- the presiding officer: the senator's time has expired.

1:53:31 to 1:53:52( Edit History Discussion )

mr. lieberman: our soldiers continue to serve under unacceptable strain. i urge my colleagues to adopt this amendment. mr. conrad: mr. president? the presiding officer: the mr. conrad: we're prepared to take that one a voice voavment. the presiding officer: if there is no further debate on the amendment, all knows in tariff say aye.

1:53:53 to 1:54:13( Edit History Discussion )

Mark Udall: all those opposed, say the ayes appe the ayes do have it. amendment is agreed to. mr. lieberman: move to reconsider. mr. conrad: move to lay on the table. the presiding officer: without objection. mr. conrad: the next amendment from senator udall of colorado. if he can describe did in 30 seconds.

1:54:00 to 1:54:35( Edit History Discussion )
Speech By: Mark Udall

1:54:14 to 1:54:34( Edit History Discussion )

Mark Udall: mr. udall: thank you, mr. chairman. the presiding officer: the senator from colorado. mr. udall: i want to th senator ensign for joining me. this is a deficit-neutral reserve fund, an amendment that would help prevent forest fires. our state budgets are facing economic wildfires. this would help state and private lands, reduce fuel loads so we can prevent catastrophic forest fires.

1:54:35 to 1:54:36( Edit History Discussion )

Mark Udall: let's stand with smokey the bear

1:54:37 to 1:54:57( Edit History Discussion )

Kent Conrad: and let's prevent vote for this amendment. mr. conrad: i call up his amendment, the presiding officer: the clerk will report the amendment. an amendment numbered 746. consent to dispense with further

1:54:40 to 1:55:20( Edit History Discussion )
Speech By: Kent Conrad

1:54:58 to 1:55:23( Edit History Discussion )

Kent Conrad: reading the amendment. the presiding officer: without objection. mr. conrad: mr. president, we're prepared to take this the presiding officer: if there is no further debate, all those in favor say aye. all those opposed, say no. the ayes appear to have it. the ayes do have it. mr. conrad: i thank the chair. i thank the senators.

1:55:25 to 1:55:45( Edit History Discussion )

Blanche Lincoln: next we go to the lincoln-kyl amendment senator lincoln. mrs. lincoln: thank you, mr. chairman. the presiding officer: the senator from arkansas. mrs. lincoln: thank you, mr. president. before i begin, i'd certainly like to stop and say a word of thanks to chairman done a tremendous job, provided great leadership. he and his staff have done a

1:55:25 to 1:57:45( Edit History Discussion )
Speech By: Blanche Lincoln

1:55:46 to 1:56:07( Edit History Discussion )

Blanche Lincoln: wonderful job and i think reflecting the president's priorities and more importantly putting balance to the budget that's before us. before because my time is limited, i want to just taking a moment to read for you few excerpts from an editorial that appears in the ""arkansas democrat gazette"" earlier this year submit you had by a family that has a timber southwest arkansas that's been

1:56:08 to 1:56:29( Edit History Discussion )

Blanche Lincoln: in the family since 1907. he said the estate tax bill kills jobs. it kills companies that provides jobs. it's a process -- it kills towns and communities, particularly those in rural areas dependent upon the land and local industry. five times this man's family has been subjected to the tax. five times.

1:56:30 to 1:56:50( Edit History Discussion )

Blanche Lincoln: he goes on, "between 1950 and 1980, vast amounts of money, tens of millions of dollars raised to pay the lands were clear-cut, millsly liquidated, communities destroyed. the next one will be even greater. think about this type of many family businesses, they grow their business, reinvest in put almost all of their profits

1:56:51 to 1:57:11( Edit History Discussion )

Blanche Lincoln: back into it and now this particular company employs over 1,000 arksans and has multiple lls. it's worth worth a good bit of money. this amendment provides real relief for our family-owned businesses. in a time where our government has handed out billions upon biions to failed wall street banks, it's time we provide a

1:57:12 to 1:57:33( Edit History Discussion )

Blanche Lincoln: little relegal to our businesses on main street that are in need of help right now. these are people who employ more than half the workers in arkansas. these are the people who if we reform the estate tax will invest in their businesses and create nor jobs rather than spend cash -- the presiding officer: the senator's time has expired. mrs. lincoln: i ask my colleagues to look at this seriously and realize we're not

1:57:34 to 1:57:46( Edit History Discussion )

Blanche Lincoln: protecting the ultra, ultra wealthy. we're working for small businesses, family businesses each and every one of our states. the presiding officer: i remind the senator that the amendment has not been called up. mrs. lincoln: i

1:57:47 to 1:58:07( Edit History Discussion )

Kent Conrad: amendment 873. thpresiding officer: without objection, the cle the amendment. the clerk: the senator from arkansas, mrs. lincoln, for herself and owes, proposes amendment numbered 873. the presiding officer: the senator from nor mr. conrad: could we have order in the chamber. the presiding officer: order

1:57:50 to 1:59:05( Edit History Discussion )
Speech By: Kent Conrad

1:58:08 to 1:58:29( Edit History Discussion )

Kent Conrad: in mr. conrad: i'd like to remind all colleague chairman's mark takes the estate tax exemption from $1 million per person in 2011 to $3.5 million, $7 million a couple.

1:58:30 to 1:58:51( Edit History Discussion )

Kent Conrad: the proposal by the senator from arkansas would take it million and $10 million a couple, reduce the rate from to 35%. mr. president, it is in a deficit-neutral reserve fund.

1:58:52 to 1:59:05( Edit History Discussion )

Kent Conrad: 2012 to 2021 when it's fully effective is over $100 billion. where does the money come from? either by cutting spending somewhere else or raising other taxes.

1:59:06 to 1:59:27( Edit History Discussion )

Mitch McConnell: i urge my colleagues to reject the amendment. mr. mcconnell: mr. president, i'm going to for a few minutes on my leader time. i am speaking in effect for senator kyl who has been our leader on the issue of the death tax for many, many years. the lincoln-kyl amendment upon

1:59:10 to 2:01:00( Edit History Discussion )
Speech By: Mitch McConnell

1:59:28 to 1:59:48( Edit History Discussion )

Mitch McConnell: which we're about to vote would decrease the burden on those who get hit with the death tax by increasing the exemption by $1.5 million to $5 million and by reducing the rate of taxation from 10% to -- to 10% -- down by 10 for 35%. no one should have to be on their assets twice.

1:59:49 to 2:00:09( Edit History Discussion )

Mitch McConnell: and no one should have to visit the taxman and the undertaker on the same day. it's really the government's final outrage. if we can't repeal this tax, then we should at at a time when americans are already burdened by shrinking retirement savings. this budget in keeping with the administration's plan -- the presiding officer: the senate will be in order. the republican leader.

2:00:10 to 2:00:30( Edit History Discussion )

Mitch McConnell: mr. mcconnell: this budget, in keeping with the administration's plan, seeks to keep the death tax exemption at $3.5 million and the tax rate at 45%. by offering an amendment that would lower the rate and the exemption, senators kyl and lincoln are offering crucial support and protection to small businesses, family ranchers, and

2:00:31 to 2:00:52( Edit History Discussion )

Mitch McConnell: farms. this andment has wide bipartisan support, including senator nelson, pryor, and landrieu, all on the democratic side; and senators grassley, roberts, enzi, and collins on the republican side. it also has strong support from the small business community which desperately at the current moment.

2:00:53 to 2:01:01( Edit History Discussion )

Mitch McConnell: it would spur economic growth, i would we need and it makes good overall economic sense since the death tax costs more to comply with than it raises in revenue.

2:01:02 to 2:01:22( Edit History Discussion )

Harry Reid: the lincoln-kyl amendment is important, timel urge its support. i yiel mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: i will use tievmentime. mr. president, this chart says it all.

2:01:05 to 2:10:44( Edit History Discussion )
Speech By: Harry Reid

2:01:23 to 2:01:43( Edit History Discussion )

Harry Reid: in february 651,000 amecans lost their jobs. 5 their jobs this past year. our unemployment rate currently stands at nevada unemployment is 10% but neva

2:01:44 to 2:02:04( Edit History Discussion )

Harry Reid: more than 10% unemployed. 3 million more childre likely be living in povty by the end of this year. the net worth of americans' households dropped by a combined total of $11 trillion last $11 trillion.

2:02:05 to 2:02:25( Edit History Discussion )

Harry Reid: these statistics tell a story, a very, very clear story, but what's even clearer is the suffering that every american sees mr. president, could we have order. the presiding o senate will be in order. the majority leader. mr. reid: could we have the staff be i would appreciate it very much. the presiding officer:

2:02:26 to 2:02:47( Edit History Discussion )

Harry Reid: senators and staff will take their conversations outside. the majority leader. mr. reid: mr. president, these statistics tell the story, tell the story that feels every families whose incomes have fallen are now concerned that they won't be able to make their

2:02:48 to 2:03:10( Edit History Discussion )

Harry Reid: next mortgage payment. students at this time of the year who should be with receiving acceptance to go to happening at home has lost a job, they can't go to college. workers who've given decades of loyal service at the office or

2:03:11 to 2:03:33( Edit History Discussion )

Harry Reid: factory realize now they can't retire because their pensions are savings have disappeared. senior citizens on a fixed income used to have to make a de be medicine or food. now many seniors don't have a choice for either.

2:03:34 to 2:03:56( Edit History Discussion )

Harry Reid: we know what eight years of previous administration that gave expense of the rest of america. president obama inherited a cris thato new president should have to inherit or face. instead of focusing full-time on the future, he and we in congress must first clean up the devastating mistakes of the

2:03:57 to 2:04:17( Edit History Discussion )

Harry Reid: past the recession to the recovery if we watch every single taxpayer dollar the way families watch every dollar in their every dollar c that's why it's so stunnin outrageous that some would choose this hour of national cris to push an amendment to slash the estate tax f the

2:04:18 to 2:04:40( Edit History Discussion )

Harry Reid: superwealthy. this isn't for the wealthy. this is for the superwealthy. yet that's what we see here today. the proposal now before us would take $100 billion of american more than that, more than billion of taxpayer money over

2:04:41 to 2:05:01( Edit History Discussion )

Harry Reid: on slashing taxes on the estates americans. 99.8% of americans would derive no benefit, none. in fact, would actually she their dollars dreected to the estates

2:05:02 to 2:05:22( Edit History Discussion )

Harry Reid: of those who are at the very top of the economic food chain. here's what oneewspaper said today. "the proverbial millionaires next door -- the plumbers, contractors and accountants who amass

2:05:23 to 2:05:44( Edit History Discussion )

Harry Reid: hard work and modest living -- are not the intended beneficiaries of this proposed cut. the obama care of them ... that means 99.8% of estates will never -- ever -- pay a penny of estate tax." here's what another newspaper said today.

2:05:45 to 2:06:05( Edit History Discussion )

Harry Reid: entitled "more tax cuts for the rich." "the hypocrisy here is breath taking ... more fundamentally, it is hard to stomach those who argue for more tax cuts - then bemoan the failure to staunch rising deficits. a vote for this amendment, at this time of so much red ink and so much suffering, would reflect

2:06:06 to 2:06:26( Edit History Discussion )

Harry Reid: the most skewed of priorities." mr couple of the amendments all over america today trying to understand what's going on washington. in recent years congress has reducreduced tax rates on the ultra

2:06:27 to 2:06:47( Edit History Discussion )

Harry Reid: wealthy estates. a $20 million estate right now -- now -- will pay an effective tax rate of 23%. nurses pay more than that. school teachers pay more than that. secretaries pay a higher tax rate than that.

2:06:48 to 2:07:08( Edit History Discussion )

Harry Reid: but we say for an estate of $20 million, 23% is okay. that's a tax for p before us, that's not good enough. they propose that we spend $100 billion 0 on a tax cut of the top .2%.

2:07:09 to 2:07:30( Edit History Discussion )

Harry Reid: ask yourselves, ask yourselves, proponents of this legislation say that they'll find offsets for the more than $100 billion. this $100 billion giveway. they'll may h. make it deficit-neutral. think about that. deficit-neutral? you have to have offse where are we going to get these offsets?

2:07:31 to 2:07:52( Edit History Discussion )

Harry Reid: they have to km from somewhere. they're not coming from the sky. do they take from the defense budget? or are we going to take it from peace corps? or from education? mr. president, even in the best of time loss is no question we could fine a better use for an

2:07:53 to 2:08:13( Edit History Discussion )

Harry Reid: extra $100 billion putting new textbooks in classrooms, petter build renew or transmission lines, we could provide health care to more working families and we could do what we the c reduce the debt. i can think of no way to

2:08:14 to 2:08:34( Edit History Discussion )

Harry Reid: describe this amendment other than stunning hypocrisy. many of the very same republicans who held president bush as he squandered a record budget surplus and turned it into a record deficit claim to be defic they say we cannot invest in the middle-class, the people who the

2:08:35 to 2:08:56( Edit History Discussion )

Harry Reid: disastrous policies have harmed. tried to stop us from providing health children of low-income families so the kids could see a doctor when they were sick or sure. they fought against president obama's economic recovery plan

2:08:57 to 2:09:17( Edit History Discussion )

Harry Reid: for those tha they are fighting against a budget that cuts thats for middle-class and puts us on path of cutting the deficit in half and investing in health care, education and clean, renewable energy. that is what chairman conrad has done. after eight years of creating a deficit, a record deficit, so

2:09:18 to 2:09:38( Edit History Discussion )

Harry Reid: they could slash taxes on ultra wealthy the same republicans oppose efforts to help the middle-class. these newly hatched deficit hawks say "no" to any propose that invests in people their but forgiving away another $100 billion plus of taxpayer money that the top .2% of 1%, money

2:09:39 to 2:10:04( Edit History Discussion )

Harry Reid: that can pay down the debt they claim to care about the same senators wind up in supported. hypocrisy and outrageous hypocrisy when the estate tax issue was debated back in 2005 in the katrina, the chairman then of the finance committee, senator

2:10:09 to 2:10:32( Edit History Discussion )

Harry Reid: grassley, quote -- today it on the radio for the first time since the great depress, all states w downturn in their economics. here is what senator grassley said then right after katrina: -- quote -- "it's a little unseemly to be talking about doing away with or enhappensing the estate tax at a time when

2:10:33 to 2:10:45( Edit History Discussion )

Harry Reid: people are suffering." if katrina which was a disaster for this country was a not to do the estate tax, try it on that all 300 million americans now are suffering.

2:10:45 to 2:10:49( Edit History Discussion )
Speech By: Carl Levin

2:10:46 to 2:10:49( Edit History Discussion )

Carl Levin: people are suffering now every city, state and town in america.

2:10:50 to 2:11:12( Edit History Discussion )

Harry Reid: i urge my colleagues to oppose this amendment. it amounts toking in but a giveaway to the wealthiest of .2% of 1% of americans at the expense of 99.8% of the rest of us especially in this time of economic cris. this is the our country.

2:10:50 to 2:11:40( Edit History Discussion )
Speech By: Harry Reid

2:11:13 to 2:11:28( Edit History Discussion )

Harry Reid: i ask muc the presiding officer: the question is on lincoln amendment numbered is there sufficient second? there appears to be a sufficient second. the yeas and nays are