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Cliff Stearns: in the ``90-10 tax cut'' Mr. Archer uses 10% of the projected surplus to provide relief to farmers, married couples…

On the recordSeptember 26, 1998
in the ``90-10 tax cut'' Mr. Archer uses 10% of the projected surplus to provide relief to farmers, married couples, seniors, small businesses, savings account-holders, and students, while preserving 90% of the surplus of Social Security. Ideally, I would favor funding Mr. Archers's tax cuts by eliminating wasteful programs in the budget. They are money programs we could eliminate to reduce spending, such as: $3,500,000 for facilities at Delaware Water Gap National Recreation Area, $3,000,000 for the International Fertilizer Development Center (IFDC), and $250,000 for production of ammunition guides by the ATF. However, the 90/10 plan achieves and important goal--this bill eliminates oppressive tax code sections while preventing wasteful surplus spending. The surplus belongs to the taxpayers, not Washington. This money should be returned to Americans as Social Security funds and tax cuts. Twenty-one million Americans are slapped with an average of $1,400 in higher taxes every year because of the marriage penalty. H.R. 4579 amends the tax code to make the schedule of standard deductions allowed for single and married taxpayers more equitable--and effectively ends the ``marriage penalty.'' The bill supports community renewal by authorizing 20 tax incentives for communities. Tax incentives such as the Work Opportunity Tax Credit and the R&E Tax Credit would be extended.…
Said by
Cliff Stearns
Florida

Editor's note · Context

Discussing the 90-10 tax cut plan and its implications for taxpayers and community renewal.

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