Barbara Boxer: “I voted for both the spending and tax reform bill because I believe they will strengthen our economy and provide needed…”

“I voted for both the spending and tax reform bill because I believe they will strengthen our economy and provide needed tax relief for millions of Americans. First and foremost, these bills balance the budget by 2002. This is a remarkable testament to the extraordinary health of our Nation's economy. In 1992, just 6 years ago, the budget deficit stood at $290 billion. Thanks in large part to the economic plan passed in 1993, the budget deficit will decline this year to $45 billion. In 1992, unemployment stood at 7.5 nationwide and 9.6 percent in California. Robust economic growth spurred by responsible economic policy has caused unemployment to decline to historically low levels. This bill cuts taxes for millions of American working families. In fact, this bill contains the largest tax decrease in 16 years. These tax cuts are directed where they are needed most, at middle class working families, promoting savings for retirement and education. The $500 per child tax credit will give parents an extra helping hand in providing for their children. These are tax cuts that I wholeheartedly support. I am especially pleased that this bill makes important investments in health care for uninsured children. I believe the $24 billion provided in the bill for children's health care may be the most significant health policy achievement in over 30 years.”