Providing for Consideration of H.R. 6169, Pathway to Job Creation Through a Simpler, Fairer Tax Code Act of 2012; Providing for Consideration of H.R. 8, Job Protection and Recession Prevention Act of 2012; Providing for Proceedings from August 3, 2012, Through September 7, 2012; Providing for Consideration of Motions to Suspend the Rules; and Waiving Requirement of Clause 6(1) of Rule XIII with Respect to Consideration of Certain Resolutions

Floor Speech

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Mr. COHEN. Madam Speaker, this week there was some disturbing news about Members of the House. One of our finest, longest-serving Members, Mr. LaTourette of Ohio, a Republican, announced he wasn't going to run for reelection. He said he couldn't run for reelection because of the gridlock and the difficulty getting things done.

He was for income, revenue--not for Grover Norquist's pledge that most of the Republicans have signed. And because he was for revenue, which is what the Democrat plan is, in taxing the wealthiest and most financially blessed in this country, he gave up because he said, you couldn't get things done. That's a shame.

People ask, why is there partisan gridlock? This is a perfect example. The two sides agree that people making $200,000 a year or married couples making $250,000 a year should get continued tax breaks. We should pass that, as the Senate did. We know that can become law and guarantee those tax breaks. The difference that we have is whether people making over $200,000 single and $250,000 married get tax breaks. They will get tax breaks on that amount of income but not on the income over that.

I have been blessed in my life, and I have had sufficient monies to do the things I want. But I have never made $250,000 a year. I consider that a lot of money.

On the Democratic side, we call that middle class tax cuts. The reality is, in my perspective, it's upper-middle class tax cuts and middle class tax cuts. The only people at the top who are having to pay a little more are the very wealthy and predominantly millionaires.

When I grew up, a millionaire was somebody who had a net worth of $1 million. Today it's somebody who makes $1 million--rock stars, business tycoons, bankers. They can afford to pay it. They're not spending that money. We need Americans who spend their money to stimulate our economy. We need purchasers.

So that's why I am against the Republican plan and for the Democratic plan. It will activate our economy.

I thank the gentlewoman from New York for yielding the time.

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