Bill Bennett: “Reference has been made by the Senator from Illinois to the effect of a $2 trillion tax cut. Is it not true that what we…”

“Reference has been made by the Senator from Illinois to the effect of a $2 trillion tax cut. Is it not true that what we are asking for in this bill is that the effect of that tax cut be made now because the effects of that tax cut, as you get up to the number of $2 trillion, was stretched out over a number of years and, in fact, the marginal tax rate cut that has actually occurred now, to which the Senator from Illinois referred, has been minimal and we are trying to accelerate the effect? It does not seem to me fair to say it failed and, by the way, we have not had any effect from it. The reason we have not had the effect is because they have not been put into effect.”