WASHINGTON, DC – Senator John Kerry (D-Mass.) today joined Senator Joseph Biden (D-Del.) in calling for shared sacrifice by the wealthiest one percent of Americans to help pay the cost of $87 billion supplemental spending request for the war in Iraq.
“Senator Biden and I are making a common-sense proposal. Rather than borrowing an additional $87 billion, we want to scale back some of the new tax cuts for Americans making over $300,000 a year,” said Kerry in a speech delivered from the floor of the Senate.
“To put this in perspective with the men and women who are making the sacrifice in uniform – who are putting it all on the line for the country – the average enlisted man or woman makes $30,000 per year and the average officer makes $67,000.
“We all know what’s happening. The troops didn’t make millions in the 1980s and 1990s; they’re hardworking men and women, mostly from the middle class, who are fighting America’s war. It’s not unfair to ask those that earn the very most – those many fortunate, talented and hardworking Americans earning more than $300,000 – to sacrifice some of their tax cuts in order to promote a free Iraq; to reduce some of the burden being placed on future generations; and help sustain education, health care, and homeland security.”
The Biden-Kerry amendment to the supplemental spending request reduces the size of the Bush tax cut for the wealthiest one percent of Americans to help pay for the war in Iraq. The rate adjustment would occur during the final six years of the President’s 10-year tax cut plan.
“With 130,000 troops sacrificing every day in Iraq, terribly unfunded domestic programs, and historic debt growing in Washington, it is an equitable and responsible proposal. And I am confident that these patriotic Americans are prepared to sacrifice as well,” Kerry concluded.
Read the full speech here:
http://kerry.senate.gov/high/record.cfm?id=212683