Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

Floor Speech

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Ms. LINDA T. SÁNCHEZ of California. Mr. Chairman, I rise today in strong opposition to this reckless legislation. There is no question that I strongly support some of the items in this bill. Unemployed Americans desperately need their benefits extended, and I proudly have voted to do so every time I have had the chance. This bill also contains tax cuts for hard-working American families, tax cuts I voted for 2 weeks ago on this very floor.

But this bill holds these good policies hostage to a giant handout to those who need help the least. It is political bullying at its very worst, an affront to working American families waged by Republicans whose irresponsible decisions got us into this mess in the first place.

This bill contains a radical change to the inheritance tax that will concentrate wealth and power in even fewer hands than it is now. In a country that prides itself on being a meritocracy, not an aristocracy, such a giveaway is irrational. It completely neuters our ability to invest in people and infrastructure.

This bill contains tax breaks for those who will make more than $250,000 a year, breaks that our country can ill-afford when teachers are being laid off and libraries are being closed, when those who have been unemployed for the longest are losing their safety net, and young men and women are still being asked to serve and die in Iraq and Afghanistan.

The payroll tax cut is another bad idea. Not only does it make Social Security less secure, many public servants, including California teachers, won't see any tax cut at all.

Overall, this bill adds nearly $1 trillion to the deficit, while doing very, very little to create jobs, spur economic growth, or invest in America's future.

Because I am committed to creating jobs, making retirement secure, and investing in this country, I cannot in good conscience support this bill. Compromise is one thing, surrender is another, and I will not surrender in my fight to ensure that America remains the land of opportunity for all.

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