WAGE INCREASES AND CORPORATE PROFITS

On 2026-06-09, Representative Seth Magaziner (D-RI-2) delivered a floor speech titled "WAGE INCREASES AND CORPORATE PROFITS" in the House.

WAGE INCREASES AND CORPORATE PROFITS

Congressional Record, Volume 172 Issue 97 (Tuesday, June 9, 2026) [Congressional Record Volume 172, Number 97 (Tuesday, June 9, 2026)] [House] [Page H4004] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] {time} 1210 WAGE INCREASES AND CORPORATE PROFITS (Mr. MAGAZINER asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. MAGAZINER. Mr. Speaker, we continue to have an economy that is working great for the very rich but not for the average working person in my district or anywhere across the country. In the first quarter of this year, average wages rose by 0.8 percent. Corporate profits rose by 2.7 percent. This is not a sustainable trend. We have two economies in this country. You are doing great if you are a billionaire partying at Mar- a-Lago or a hedge fund manager. But for the average working person, this does not work. What did this Congress do last year? We passed a $4 trillion tax cut for the rich and big corporations. How about instead we spend some of that money to make healthcare better for the American people or to make education better. How about we focus on lowering costs instead of letting big corporations price gouge people. This is not working. It is driven by the corruption in this city, and it has to stop. ____________________