Dividends

DIVIDENDS

Ms. COLLINS. I would like to engage the distinguished chairmen of the Senate Budget and Finance Committees in a colloquy on the Budget Committee chairman's dividends amendment. As my colleagues are aware, no provision of the economic growth package is more important to me than my amendment providing $20 billion in short-term fiscal relief to States and localities. If we are to kick-start our economy through Federal tax relief, we must help our States avoid raising taxes and slashing spending. And in the process of passing this bill, the last thing we can afford is to exacerbate the States' fiscal woes.

I am therefore concerned that the language of the Budget Committee chairman's dividends amendment does not adequately protect States from revenue loss. As you know, I cannot vote for a dividends amendment that would lessen the benefits of my fiscal relief provision without an assurance that it would be fixed in conference. I therefore seek the assurances of the distinguished Budget and Finance Committee chairmen that they will do all they can in conference to protect States from revenue loss associated with any dividends provisions in the final bill.