Asa Hutchinson: “I rise in support of tax relief for the American people and in support of the House-passed legislation that will provide…”

“I rise in support of tax relief for the American people and in support of the House-passed legislation that will provide taxpayer relief today. Tax collections, it is estimated, will exceed over $8 trillion in the next 5 years. An $80 billion tax cut--that is what the House of Representatives cut--an $80 billion tax cut amounts to about one penny savings on every dollar paid in to the Federal Government. I don't believe that is too much out of this surplus that we are realizing because of a robust economy and because of restraints on spending, as much waste as there still is. We have slowed the growth of Federal spending and, as a result of that, for the first time in 29 years, we have a balanced budget, we have a surplus, and it is only right and it is only proper that a portion of that be returned to the American people. I think the only problem with the House-passed tax cut is that it is too little, but we should at least bring it forward, and we should at least have that debate on the floor of the U.S. Senate.”