I come to the well today to draw attention to an issue which affects over 100 million American taxpayers. This past year because of the leadership of President Bush and the gentleman from Illinois (Mr. Hastert) and the House Republican majorities, we were successful in enacting a tax cut which benefits and helps over 100 million taxpayers who now have lower taxes. And what we call the Bush tax cut when it was passed into law does a number of things. It lowered rates for everyone. In fact, 3.9 million families with children no longer pay Federal income tax. We have brought fairness to the Tax Code by phasing out the death tax, by eliminating and wiping out the marriage tax penalty, and also providing opportunities for taxpayers to save for retirement, a tremendous benefit for over 100 million Americans. And unfortunately, because of some of the arcane rules that we have in this Congress, that tax cut was made on a temporary basis.
Editor's note · Context
Discussing the impact of the Bush tax cut on American taxpayers.
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