In 1993 and 1997, we both reduced the deficit and in 1997 balanced the budget by cutting taxes for working families and middle class families who were trying to meet their obligations to their children and their families. We did not make a choice between tax cuts and deficit reduction. We did both effectively, resulting in 22 million more Americans having jobs, half the poverty rate in this country cut, incomes at all levels going up and the ability of families to send their kids to college being achieved and realized. Today we have two proposals but also two different visions, both providing tax relief. One, I believe, the Democratic alternative, more equitably, more fairly and more progressively and being paid for, that does not literally in my view provide a head fake to future generations who will be left the obligation to pay for this tax cut. I note in the Republican proposal that they do finally have in 2008 the earned income tax credit extension. My view is if it is good in 2008, let us do what the Democratic proposal does and bring that tax cut forward to 2005.
Editor's note · Context
Discussing tax cuts and budget proposals during a floor speech.
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