On the recordJune 17, 1997
I join the ranks of Republicans who are proud to tell our constituents that this Congress is giving them the first tax cuts they have had in over 16 years. I agree with those who call this budget historic, but it is historic for a lot more than just the $85 billion that we will be returning to the pockets of working families over the next 5 years. History is going to show that 1997 marked the year when American leaders began to redefine what is and is not income. Through these tax cuts we have taken the first step in announcing to the American people that income is not the money they carefully saved through their lives and left for their children and their grandchildren. Income is not the assets of their family businesses they built with pride and nurtured over the years and just happened to be there when they died. Income is not the increased valuations of their homes. I believe these tax cuts are the first step toward a simplified tax system that fairly and honestly taxes income, and a move away from a system that punishes savings and investing in our children, in our future, as our current system does.
Source
govinfo.gov




