Wayne Allard: “Mr. President, this week I am confident that the Senate will approve the largest tax cut since the Reagan tax cuts of…”

“Mr. President, this week I am confident that the Senate will approve the largest tax cut since the Reagan tax cuts of 1981. And it is about time. In the 16 years since the last tax cut, Congress has enacted two major tax increases--one in 1990, and the other in 1993. Mr. President, it is time for a change. It is time to put American families ahead of Washington, DC's insatiable appetite for more Government spending. Taxes are now higher than they have ever been. Taxes constitute one-third of the economy. And Tax Freedom Day--the day to which the average American works to pay the combined Federal, State, and local tax burden--and that date is May 9. It is the latest it has ever been. Mr. President, I view this tax cut as a downpayment. My long-term objective is to ensure that no American family pays more than 25 percent of its income in taxes. A balanced Federal budget, and a reasonable level of taxation should be the twin objectives of Congress as we enter the next century.”