On the recordJune 11, 1997
the reviews of the Republican tax bill are pouring in. A bad bill gets worse. A favor-the-rich tax plan. Loophole-filled tax cuts are an economic time bomb. What we are now seeing is, after people have a chance to review the Republican tax bill, they now understand that over 60 percent of the tax cuts go to people in the top 5 percent of income in America. And corporations over time would again go back to paying no taxes at all for the privileges that American society extends to them. And how do they pay for these exploding tax cuts that will make the deficit worse? They want to take people who are eligible for Medicare at 65 and make them eligible at 67. That means millions of workers who retire or are laid off at their jobs at 58, 59, 60-years-old, will have to wait 7 years to have health care coverage. They want to take poor elderly women, who have the smallest pensions, and tell them they will not pay for their Medicare, and they want to penalize families that put their children into day care and not give them the tax cuts.
Source
govinfo.gov




