Neal Dunn: “there are two reasons for the tax relief bill that we are considering on the floor this afternoon. First, as the Federal…”

“there are two reasons for the tax relief bill that we are considering on the floor this afternoon. First, as the Federal Government continues to amass surpluses, we must share this reward with the people who produced it. The longer we delay providing tax relief, the less likely it will materialize. Because we know that it is a fundamental fact that, if that money stays in Washington, D.C., it will be spent. Under this bill alone, a typical family of four with an income of $55,000 a year would see a tax cut of nearly $400 this year; and under the entire bill, which we will be addressing later on, $2,000 once the plan is fully implemented. Second is, as the economy softens, tax relief will provide critical stimulus to prevent this country from going into a prolonged recession. Wait for the budget. Sure, we could do that. But H.R. 3 would increase family income. It will boost economic activity, and it will contribute to job growth. We need to get this tax relief moving now. Why wait? The critics and doomsayers claim that H.R. 3 is too large, it is reckless, it is unfair. I respectfully disagree on all counts. The bracket reduction represents 25 percent of the projected budget surplus. It is also fair. Under H.R. 3, every taxpayer will receive relief, every taxpayer. It targets no one in and no one out. Indeed, those in the lowest bracket will garner immediate benefit retroactive to the beginning of this year. Mr. Speaker, I urge my colleagues to support this bill.”