Senate Proceeding on Jan 31st, 2008 :: 0:41:39 to 0:52:27
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0:41:20 to 0:41:39( Edit History Discussion )

Sherrod Brown: is reserved. the senate will now conduct morning business. senators are limited to up to ten minutes each. a senator: mr. president? the presiding officer: the senior senator from montana is recognized.

0:41:39 to 0:41:52( Edit History Discussion )

Max Baucus: mr. baucus: mr. president, a few minutes ago the minority leader urged the senate to simply pass the house stimulus bill, no amendments, saying it's a christmas tree to pass no amendments. mr. president,

0:41:39 to 0:52:27( Edit History Discussion )
Speech By: Max Baucus

0:41:52 to 0:42:07( Edit History Discussion )

Max Baucus: i don't think that the senate wants to deprive 20 million american seniors of a rebate check. i don't think the united states senate wants to deprive about a quarter of a million disabled veterans

0:42:07 to 0:42:22( Edit History Discussion )

a rebate check. that's what would happen if we were to follow the advice of the minority leader. he would deprive 20 million american senior citizens from getting a rebate check under the stimulus plan.

0:42:22 to 0:42:38( Edit History Discussion )

he would deprive a quarter of a million disabled vets from receiving a stimulus rebate check under the plan. i don't think the senate wants to do that. i think the senate wants to make some very modest

0:42:38 to 0:42:53( Edit History Discussion )

changes to the house-passed bill -- if the 20 million seniors is modest, i think it's very important. but i think the that the american public would very much prefer that the united states senate make

0:42:53 to 0:43:06( Edit History Discussion )

Max Baucus: some modest changes to the house-passed bill so those stimulus checks can be sent out very quickly. we on this side, mr. president, do want speedy passage of the stimulus package. the majority leader

0:43:06 to 0:43:20( Edit History Discussion )

Max Baucus: has indicated that he would take this up on monday, a few days from today, and my hope is, and i think his expectation is for it to be passed on monday. finally passed on monday. remember, not too

0:43:20 to 0:43:34( Edit History Discussion )

Max Baucus: long ago the president and the leadership in washington, d.c. were saying, skwraoerbgs let's get -- saying gee, let's get those stimulus checks out by february 15. this is january 31. we can get this done

0:43:34 to 0:43:44( Edit History Discussion )

Max Baucus: very, very quickly, a matter of several days; maybe sometime near the end of next week. well before february 15. we want to move quickly. we want to not load up the stimulus package, loading it up with

0:43:44 to 0:43:56( Edit History Discussion )

Max Baucus: too much would cause delays. we here in the senate very strongly believe, this side of the aisle strongly believe that 20 million seniors should get those rebate checks and a quarter of a million

0:43:56 to 0:44:09( Edit History Discussion )

Max Baucus: disabled veterans should get rebate checks. they would not get those checks under the house-passed bill. and that's why i do not think we should willy-nilly just accept the house bill which would deprive

0:44:09 to 0:44:22( Edit History Discussion )

Max Baucus: 20 million seniors and a quarter million disabled veterans of those rebate checks. mr. president, they came of age in the great depression during world war ii, and of them tom brokaw wrote -- quote -- "at

0:44:22 to 0:44:37( Edit History Discussion )

Max Baucus: the end of the 20th century, the contributions of this generation would be in bold print. it is a generation that by and large make no demands of homage from those who followed and prospered because

0:44:37 to 0:44:51( Edit History Discussion )

Max Baucus: of the sacrifices. it is a generation of achievement and modest demeanor, a legacy of their formative years when they were participants in and witnesses to sacrifices of the highest order."| that's what

0:44:51 to 0:45:10( Edit History Discussion )

Max Baucus: tom brokaw wrote in the book "the greatest generation," the men and women of that generation and the one that's followed are now seniors, these are the seniors that the finance committee is fighting

0:45:10 to 0:45:25( Edit History Discussion )

Max Baucus: for with the stimulus bill that was reported yesterday. america's seniors are acquainted with sacrifice. as brokaw wrote, "they know how the best of their generation didn't make it to their early 20's.

0:45:25 to 0:45:40( Edit History Discussion )

Max Baucus: how many brilliant scientists, teachers, spiritual, business leaders, politics, artists were lost in the ravages in the greatest war that the world has seen." end quote. they fought for our country, american

0:45:40 to 0:45:54( Edit History Discussion )

Max Baucus: seniors, they gave a lifetime of labor. they gave a lifetime of service. they paid a lifetime of taxes and they contributed to the -- they contribute to the economy today. but 20 million of these

0:45:54 to 0:46:08( Edit History Discussion )

Max Baucus: seniors would not get a check in the house passed stimulus bill. 20 million. 20 million american seniors. those 20 million seniors would get a check in the finance committee substitute. these 20

0:46:08 to 0:46:26( Edit History Discussion )

Max Baucus: million seniors will be left out of the house-passed tax rebate, why? just because they don't have at least $3,000 in earned income, that is, in wages, or enough taxable income to meet the tests set

0:46:26 to 0:46:41( Edit History Discussion )

Max Baucus: up by the house bill. in contrast, the finance committee plan would allow almost all seniors to receive at least $500. they would just have to show that they received $3,000 in social security income

0:46:41 to 0:46:58( Edit History Discussion )

Max Baucus: under 2007 tax -- on their 2007 tax return. many seniors live on fixed incomes. some earn some wages, some make some money, but many seniors live on fixed incomes. many struggle to pay their medical

0:46:58 to 0:47:10( Edit History Discussion )

Max Baucus: bills. many struggle to pay their heating bills. especially as energy costs are going up so high. drug prices are going up too. seniors deserve to be included in any rebate program. when we were contemplating

0:47:10 to 0:47:22( Edit History Discussion )

Max Baucus: distributing stimulus checks proudly to most american families, it would just be wrong not to include 20 million seniors of the greatest generation. and a rebate to seniors works for america's

0:47:22 to 0:47:38( Edit History Discussion )

Max Baucus: economy too. it is not just the right thing to, but it -- to do, but it works for our economy, here's why. economists agree that consumer spending fueled by tax rebates can boost america's economy.

0:47:38 to 0:47:51( Edit History Discussion )

Max Baucus: americans over age 65 are responsible for 14% of all consumer spending. let me repeat that. americans over age 65 are responsible for 14% of all consumer spending. now, look at this chart to my right, mr.

0:47:51 to 0:48:06( Edit History Discussion )

Max Baucus: president. it indicates something very simple, very basic from an economic perspective, let alone the moral imperative of doing this right for the seniors, but from an economic perspective. americans

0:48:06 to 0:48:20( Edit History Discussion )

Max Baucus: over age 65 spend 92% of their income in any given year. that is represented by this horizontal bar on the top in blue. let me say that again. americans over age 65, that's what this line represents,

0:48:20 to 0:48:38( Edit History Discussion )

Max Baucus: spend almost all of their income in any given year. they spend 92% of their incomes in any given year. contrast that with a household headed by a person a little bit efer older, over age 75, they spend

0:48:38 to 0:48:55( Edit History Discussion )

Max Baucus: a higher percentage of their income, that's 98%. that's higher than any other demographic group over age of 85. seniors spend more than any other demographic group over the age of 25. other social security

0:48:55 to 0:49:08( Edit History Discussion )

Max Baucus: recipients could benefit too. in 200,618,000,000 americans received -- in 2006, 18 million americans received social security benefits, disabled americans can qualify for a tax rebate too, under the finance

0:49:08 to 0:49:21( Edit History Discussion )

Max Baucus: committee plan. millions of them would get nothing under the house plan. and a finance committee bill would provide rebate checks to another group of americans who sacrifice for their -- sacrificed

0:49:21 to 0:49:36( Edit History Discussion )

for their country. disabled veterans. once again, the house left them out. the house said no to a quarter of a million of disabled veterans. they said, no, no rebate checks if you're a disabled vet

0:49:36 to 0:49:50( Edit History Discussion )

and if you don't have significant earned income. under the house bill more than a quarter million of vets would receive no rebate, why? because they have no ability to file a tax return. the finance

0:49:50 to 0:50:07( Edit History Discussion )

committee would provide rebate checks for this quarter of a million veterans. it would get rebates to disabled veterans who receive nontaxable disability compensation. the house forgot about that.

0:50:07 to 0:50:22( Edit History Discussion )

they forgot about a wawrter million of disabled vets. the senate plan makes them eligible to receive the same $500 rebate as wage earners and social security. my colleagues know that america's once

0:50:22 to 0:50:40( Edit History Discussion )

again at war. many of my colleagues visited with wounded soldiers who have come home from wars in iraq and afghanistan. my colleague from kentucky a few minutes ago made a very moving tribute to several

0:50:40 to 0:50:55( Edit History Discussion )

Max Baucus: fallen soldiers from his state of kentucky. many of my colleagues have, as i have, gone to walter reed and visited with our wounded warriors. more than 21,000 service men and service women have been

0:50:55 to 0:51:08( Edit History Discussion )

Max Baucus: wounded in iraq and afghanistan. not all will become disabled veterans, but many, many will. no one can question their sacrifice. no one can question their contribution. and no one can question that they

0:51:08 to 0:51:22( Edit History Discussion )

Max Baucus: have earned their right to have participate in this rebate program every bit as much as any other american. and so, mr. president, let us honor the americans who came of age in the great depression

0:51:22 to 0:51:34( Edit History Discussion )

Max Baucus: and during world war ii. let us honor the americans who fought for our country in its wars only to come home disabled. and let us ensure that these greatest americans receive their fair share of any economic

0:51:34 to 0:51:47( Edit History Discussion )

Max Baucus: stimulus. that's what's at stake here. that's why the senate should not just rubber stamp the house-passed bill. that's why rather the senate should pass the finance committee stimulus bill. to do anything

0:51:47 to 0:52:27( Edit History Discussion )

Max Baucus: less would be to shortchange millions of seniors and veterans who have earned the right to be called the greatest americans. mr. president, i yield the floor and suggest the absence of a quorum. the presiding