On the recordJuly 30, 1997
back in the First District of Georgia what will the tax cut mean to the Collins family? Mr. and Mrs. Collins, who have a combined income of $61,000 and three kids, Dennis, Tom, and Sue Ellen, the $500 per child tax credit means the Collins' will pay $1,500 less in taxes next year. Mr. Collins is a farmer. Mrs. Collins is a school teacher. Because he is self-employed, he can start deducting 100 percent of his health care costs. That makes health care for the Collins family more affordable and more accessible. And when it comes time to estate planning, to pass that family farm, that American dream back down the line to Tom, Dennis, and Sue Ellen, Mr. and Mrs. Collins will now have a $2.6 million unified tax credit on their death taxes that will be exempt from the taxes so that they can pass the farm on to the next generation. Mr. Speaker, this is the American dream as the Republican Party has worked for it.
Source
govinfo.gov




