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House Proceeding 03-19-09 on Mar 19th, 2009 :: 0:05:10 to 0:09:35
Total video length: 2 hours 12 minutes Stream Tools: Stream Overview | Edit Time

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Charles B. Rangel

0:05:06 to 0:05:28( Edit History Discussion )

Charles B. Rangel: nays are ordered or on which the vote is objected to under 20. recorded votes on postponed

Charles B. Rangel

0:05:10 to 0:09:35( Edit History Discussion )
Speech By: Charles B. Rangel

Charles B. Rangel

0:05:29 to 0:05:50( Edit History Discussion )

Charles B. Rangel: questions will btaken later. the house will come to order. for what purpose does the gentleman from new york mr. rangel: mr. speaker, i rise and move t and pass h.r. 1586. the speaker pro tempore: the clerk will report the title of

Charles B. Rangel

0:05:51 to 0:06:12( Edit History Discussion )

Charles B. Rangel: the bill. the clerk: h.r. 1586, a bill to impose an additional tax on bonuses received from certain tarp recipients. the speaker pro tempore: pursuant to the rule, the gentleman from new york, mr. rangel, and the gentleman from michigan, mr. camp, each will control 20 minutes. the chair recognizes the gentleman from new york. mr. rangel: the house is not in order, mr. speaker.

Charles B. Rangel

0:06:13 to 0:06:33( Edit History Discussion )

Charles B. Rangel: the speaker pro tempore: the gentleman is correct. all proceed tho will suspend until we have order in the house. again, the chair reminds members to take a seat. members are urged to take a seat or take their conversations off the house floor. action on the house floor will

Charles B. Rangel

0:06:34 to 0:06:54( Edit History Discussion )

Charles B. Rangel: continue to suspend until we have order in the house. the gentleman from new york. mr. rangel: first of all, mr. speaker, i want to thank congressman peters, congre israel, congresswoman maloney for coming together and working

Charles B. Rangel

0:06:55 to 0:07:15( Edit History Discussion )

Charles B. Rangel: with the committee to see how e best that we could, we could right a wrong. most all americans believe that a bonus is something that is paid as a reward for a job well done.

Charles B. Rangel

0:07:16 to 0:07:37( Edit History Discussion )

Charles B. Rangel: and certainly we in the house that when a handful of people receiving taxpayers' money for threatening the community in which we live and indeed our country and the financial structure of the world, the whole idea that they should be rewarded millions of dollars is repugnant to everything that decent people

Charles B. Rangel

0:07:38 to 0:07:58( Edit History Discussion )

Charles B. Rangel: believe in. but notwithstanding that, it's not our job to tell the private ctor what to do. it is our job to say, you don't do it at taxpayers' expense. all this bill does is just pull out that part that they call bonus, and if you received, or

Charles B. Rangel

0:07:59 to 0:08:22( Edit History Discussion )

Charles B. Rangel: the company received, $5 billion of taxpayers' money we say the tax that you will pay on this is 90%. and the rest of your income would be at the regular rate of 35%. if, indeed, this combinat the so-called bonus reward is combined with th

Charles B. Rangel

0:08:23 to 0:08:45( Edit History Discussion )

Charles B. Rangel: and reach ascap of $250,000, count. maybe somewhere along the line, someone might say, i don't we've caused enough damage. people have lost their jobs, their savings, they've lost their homes, their health insurance, they've lost their dignity, they've lost their

Charles B. Rangel

0:08:46 to 0:09:07( Edit History Discussion )

Charles B. Rangel: pride, and we don't deserve to take this money from the taxpayers, then give it back, don't receive it, and the law certainly would not apply. but if you are proud of what you've done, we're saying the buck is going to stop here, the red light is flashing and anyone thinking about doing this, we say, you just pay your dues to

Charles B. Rangel

0:09:08 to 0:09:28( Edit History Discussion )

Charles B. Rangel: the i.r.s. because we're going to be watching this job. so, mr. speaker, we' trying to punish anybody, we just say, do what you have to do, rewards are subjective, but you don't it with taxpayers' money. and at the end of the day, i do

Charles B. Rangel

0:09:29 to 0:09:35( Edit History Discussion )

Charles B. Rangel: hope that this will be a message that will be sent in a bipartisan way. we may have differencehow we resolve this problem in the

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