I believe the premise of this bill is correct: The American people should be able to keep more of the money they have earned. It is just not right for the Federal Government to take an ever increasing share of the incomes of working Americans. Do the American people want a tax cut? Yes, they certainly do. But their top priority--and many of my constituents in Delaware have told me this--is for Congress to cut spending and balance the budget first, and then cut taxes. The bill now contains this very important safeguard. I am pleased to say that the Republican leadership, Chairman Archer and Chairman Kasich agreed to an amendment offered by Mr. Upton, Mr. Martini, and myself that requires that the tax cuts can only become law when Congress has approved budget legislation that will put the Government on course to a balanced budget by the year 2002. This will hold Congress' feet to the fire to ensure that the budget legislation passed this year will make all of the necessary spending cuts and program changes to reduce the deficit every year for the next 7 years so that the deficit will be zero in 2002.
Editor's note · Context
Discussing the importance of balancing the budget before implementing tax cuts.
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