there is a stark contrast between the Republican budget and the President's budget on one issue. On the issue of tax cuts there is a clear and flagrant difference. The Republicans give real, meaningful tax cuts. The President gives essentially no tax cuts and, indeed, in the last year of his budget he raises taxes by $14 billion just to bring, by smoke and mirrors, his budget into balance at the last minute. Mr. Chairman, I make no apology for arguing for tax cuts. We Republicans trust Americans to spend their money more wisely than we do. But let us talk about that issue. We are here concerned about the deficit and the debt. The truth is we have an anemic economy growing at 2 percent a year. Historically our economy has grown over the last 30 years at 3.6 percent. Now it is growing at only 2 percent. If we could enact the tax cuts that President Clinton vetoed, we could unleash this economy. Mr. Chairman, I urge my colleagues to join me in supporting a budget that stops the situation where Americans pay more in food and clothing than they do in taxes.
Editor's note · Context
Discussing the differences between the Republican and President's budgets regarding tax cuts.
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