OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Wage Increases and Corporate Profits

Floor Speech

Date: June 9, 2026
Location: Washington, DC

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Mr. MAGAZINER. Mr. Speaker, we continue to have an economy that is working great for the very rich but not for the average working person in my district or anywhere across the country.

In the first quarter of this year, average wages rose by 0.8 percent. Corporate profits rose by 2.7 percent.

This is not a sustainable trend. We have two economies in this country. You are doing great if you are a billionaire partying at Mar- a-Lago or a hedge fund manager. But for the average working person, this does not work.

What did this Congress do last year? We passed a $4 trillion tax cut for the rich and big corporations. How about instead we spend some of that money to make healthcare better for the American people or to make education better. How about we focus on lowering costs instead of letting big corporations price gouge people.

This is not working. It is driven by the corruption in this city, and it has to stop.

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