On the recordJanuary 4, 1996
we have heard a lot of hot air about tax cuts for the rich, tax cuts for the rich. Well, as many of the Members know, myself and another Member who is sitting in the body today earlier in the year worked hard to lower the tax cap for the $500-per-child tax credit. The conference bill is currently at $75,000 for a single earner and $110,000 for a couple. Most people would say that that is reasonable, especially if you look at the fact that in 1950 the average income-earner family in this country was sending 5 percent of their income to Washington for Federal taxes and today it is over 25 percent. Remember also the President himself introduced a bill that had some tax cuts in it. So I think what we are working at now, and as we said all along in the continuing resolution, was that we would put everything on the table, the level of tax cuts. The President has his. We have ours. Let us get some numbers and come to an agreement.
Source
govinfo.gov
