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Late Edition With Wolf Blitzer CNN (CNN)National Programming, DMA: 0 Nov 16 2008 12:06PM EST Programming Type: Talk Public affairs Est. Households/Views: 1025447 Est. Publicity Value: $7369 (30 Seconds) $73690 (Total)
have this administration have some type of transition with the next one. we won't be taking up anything unless we have agreement from the senate they're willing to pass something rather than give hopes to people and don't do anything at all. >> what do you think, congresswoman? >> the democrats control both sides of the hill. and they can pass whatever they want to pass. >> in the house they k but in the senate you need 60 votes to get through a filibuster. they don't have the 60, they have 51. >> being one that has voted against the bailouts, i think what we need to do is put everything on the table. we know there are a lot of just-in-time suppliers and manufacturers that are around these auto plants. we need to look at suspending cap gains. we need to look at what would happen if we had sales tax deductibility, which has -- we have in tennessee, we deduct that from our federal income tax filing. what would happen if you were to deduct sales tax from everybody's federal income tax filing and give consumers an incentive to go buy? >> ask the cham of the ways and means committee. he's responsible for writing tax laws in the united states. what do you think of that idea, congressman? >> any idea that's going to bring relief to the american people instead of just the bank executives is something we should talk about. i don't know whether we have enough time to have hearings on all of these things, but i do believe that the congresswoman is right, we can't just throw the money out there. the question is, if the president wants to talk about this, he has to talk to the senators to make certain that we do have enough votes there to pass it. and that's where we ought to be talking about, not our differences, but how can we get out of this congress -- we got just one more week to go, and give some relief to the people who are unemployed, be able to protect some of the people from this terrible winter we're going to have, to give something in health care, and to make certain we bring some stability to employment. these are the people that are crying for some help. and so we can discuss all of these things, but we won't be able to get back until next january. i hope that this week we can discuss things in a bipartisan way and bring relief to the automobile industry no matter what compromise. >> basically one week of work you have before the thanksgiving resesz. >> you're exactly right, wolf. we have to get to work on some of these issues. we have to look at the entire picture that we're dealing with, with distributors, with consumers. the energy issue, my goodness, we have to get the cost of energy down. we're looking at the $25 billion that had been put in place for retooling the auto industry. >> let me read to you what john ba bonier said, spending billions of additional federal tax dollars we heard something very similar from the ranking republican, richard shelby, earlier today as well. do you agree with that? >> i do agree with that. i think mr. shelby and mr. boehner are correct on that. the american people are now finding out from secretary paulson, he spent $250 billion, and there will be no return to the american people on that. aig is into the federal government for over $315 billion. you had $323 billion that was spent before the $700 billion bailout. this is all on the taxpayers' back. and the taxpayers are getting very, very weary of this. now, what we -- >> let me let congressman rangel respond to that. go ahead. >> i think it's true, the taxpayers are getting weary and they should be because all of the assistance is to the financial institutions. but we're there not to represent the banks. we're there to represent the people. and there are millions of jobs that are dependent on the automobile industry. they're in tennessee, in new york, all around this country. it would seem to me, rather than going to this debate in the last week of the session, that we should be talking about compromises, about how can we help these people, how can we help the industry, how can we help the people and for those out of work, to give them some support. that's what we should do. >> let me switch gears because we're almost out of time. congressman rangel, a lot of us remember it was you who inspired hillary clinton as first lady of the united states to run for a senate seat from new york. and she did. she got elected. re-elect re-elected. almost got the democratic presidential nomination. but now serious talk that barack obama might ask her to become the next secretary of state of the united states. how would you feel about that? >> well, we certainly will miss her in the great state of new york but it just shows that president-elect obama will want to do what's best for the country, and indeed, the free world. i cannot think of a better choice than our great senator hillary clinton. i think it would be terrific if she's offered it and if she accepts it. >> how do you feel, congresswoman, about that? >> i think that hillary clinton
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