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Concurrent Resolution on the Budget for Fiscal Year 2015

Floor Speech

Date: April 9, 2014
Location: Washington, DC
Issues: Employment and Affirmative Action Economy and Fiscal Government Budget and Spending

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Ms. SCHAKOWSKY. Mr. Chair, we hear over and over again from Republicans about how we can't afford to make investments in education and infrastructure and science and medical research, and we can't keep our promises to seniors; but at the same time, over the past 5 years, we have raised less Federal revenue, as a percent of GDP, than in any 5-year period since 1941.

But this country, my colleagues, has never been richer. The Wall Street Journal said last month:

U.S. wealth rises, but not all benefit.

The top 1 percent of earners have received 95 percent of the income gains in this country since 2009, and at least eight Americans earned more than $5 billion in income last year.

So what is the disconnect? Why are we richer than ever before, but unable to invest in basic priorities?

The answer is that Paul Ryan and the House Republicans refuse to raise a dime from the millionaires, billionaires, and multinational corporations that dodge their fair share of taxes. It would even pad the pockets of the wealthiest Americans. The Ryan budget says, if you make $1 million next year, that budget would give you a $200,000 tax break.

Our budget presents a stark contrast to the austerity proposals peddled by this Republican Congress. In order to add 8.8 million jobs to the economy over the next 3 years and provide Americans an opportunity to get a good education, find a job, live in a safe and secure home, and afford decent food, we raise revenue that is needed. We do so by asking millionaires and billionaires to pay their fair share--yes, we do--and by closing egregious corporate loopholes, including incentives to ship jobs overseas. We would also cut $4 trillion from the deficit over the next decade.

Look, we can't build the economy for the many--not just the monied--unless we make significant investments in our future. Those investments can and should be made by raising revenue and growing our economy.

I urge my colleagues to support the Better Off Budget.

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