On the recordJuly 30, 1999
I commend the efforts of Chairman Roth in putting together the Taxpayer Refund Act. However, it is my belief that Congress right now has a unique opportunity to enact broad-based tax cuts, providing more pro-growth and pro-family relief than is currently provided in the Finance Committee bill. This substitute combines the elements I believe are essential to preserving economic security for years to come: It preserves Social Security and Medicare; It reduces the near-record tax burden currently placed on the American people; and It empowers America's growing investor class--working, middle class families who strive to save for the future so that they may enjoy secure retirements and so that they can bequeath a legacy to their children. All this, Mr. President, without greatly increasing the complexity of the tax code. Over the next 10 years the federal government will accumulate surpluses of about $3 trillion. Now that the age of surpluses has arrived, we must decide what to do with them, how we can best use them to insure economic growth and security into the next millennium.
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