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Akaka Opposes Estate Tax Measure To Prevent Cuts To Needed Programs

August 3, 2006

Washington, D.C. - Senator Daniel K. Akaka (D-HI) today said he will oppose cloture on H.R. 5970, the so-called "trifecta bill." His decision is based on the growing concern over the country’s rising deficit, the lack of support for the minimum wage increase, faulty tip provisions, and discretionary funding for necessary programs in education, health care, and social services.

"I am talking about opposing cloture on a bill that would mortgage future generations by adding more than $300 billion to already alarming federal deficits," Senator Akaka stated.

According to the Center on Budget and Policy Priorities some of the programs that would be cut to make up for estate tax revenue losses include Medicare for seniors, State Children’s Health Insurance Program, federal civilian retirement, the Earned Income Tax Credit for lower-income families, the child tax credit, military retirement, unemployment insurance, Supplemental Security Income for the elderly and the poor, veterans disability compensation and pensions, Food Stamps, school lunch and child nutrition, and farm programs.

"It is because of drastic impacts like this that I have heard from hundreds of constituents who want me to vote to save these necessary programs and others in education, health care, and social services that would bear the brunt of further reductions in discretionary funding," said Senator Akaka.

Senator Akaka added that the minimum wage proposal inserted in this package is another element that does not go far enough for our low-income and disadvantaged. "If the Majority Leadership is serious about increasing the wage rate, then we should pass free standing bills that are currently pending action in both the Senate and the House of Representatives. This is truly an outrage that the majority has stooped so low to do this, and to take such a cynical view of the support that a minimum wage increase truly has in our country."

Among the good measures in this package, Senator Akaka recognized the benefit of a provision that allows for a tax reduction for spousal travel. "However, on balance, as with so many other large legislative vehicles that we consider on this floor," he said, "it is not enough to convince me to support the overall package."


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August 2006

 
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