Wayne Allard: “Mr. Chairman, I would just comment, if this bill would pass, the average Colorado family would pay $1,534 in fewer…”

“Mr. Chairman, I would just comment, if this bill would pass, the average Colorado family would pay $1,534 in fewer taxes. Mr. Chairman, I join in strong support of the Contract With America tax relief package. It is time to give American families back some of their hard earned money. Two years ago, President Clinton raised our taxes, today the Republicans fulfill their contract and cut taxes. We are keeping our word. The American people want lower taxes, and less government spending. This package delivers. Every nickel of this tax cut is paid for with spending cuts, and an additional $90 billion in spending cuts are applied to deficit reduction. In May, we will return with a budget resolution that builds on this legislation and puts the government on a glide-path to a balanced budget by 2002. This will necessitate us capping the rate of growth in spending at 2 percent a year. The difference is that now the Federal Government grows at over 5 percent a year.”