Click here to watch Rep. Blumenauer's Floor Speech

I listen to my friend from Indiana wondering what could possibly have economic impact investing in the arts or climate change. i don't know what's going on in Indiana but if you talk to the arts groups in Oregon or in Massachusetts or in New York or Illinois, they will tell you that investments there will produce economic activity in areas that are strained and underserved. Investment in climate change and energy research creates jobs and businesses crying out for it -- business is crying out for it large and small.

But I'm pleased they have come forward with their alternative. Listen closely to what they say. If we assume what this model applies to the way we'd like our legislation to work, it would be twice the jobs for half the cost. These are the same people that told us the Bush Tax Cuts were going to lead to Nirvana. These are the people that said that the Clinton economic programs would lead to disaster. Look at the results of their models when they've been put into place. Exploding deficits, problems with the economy. I'm glad, however, that they've offered this alternative. Because it puts in clear relief what their priorities are. Take money away from 95% of the American public and invest in the few who need it the least. Take money away from four million students who would have this tax relief. And my favorite is actually continue to game the alternative minimum tax to purposely push more people into it with tax gimmicks rather than work with us in fundamental tax reform that doesn't subject more people and give us this charade.