Steve Pearce: “in summary, I just would say that, in perspective, people in this city are saying that the tax cut is just too large…”

“in summary, I just would say that, in perspective, people in this city are saying that the tax cut is just too large, that the original figure of $726 billion over a 10-year period, that compares to $120 trillion. Mr. Speaker, we are asking for seven-tenths of 1 cent back in taxes. Economists on both sides of the aisle declare that this tax cut, this tax relief package by the President of the United States to be the boldest tax plan ever presented, that if the dividend tax is repealed, it can surge our economy upward for a 50-year period with an immediate 10 to 15 percent increase in stock prices. Mr. Speaker, again, I am going to close with the comments on March 31 of this year from Democrat Governor Bill Richardson from New Mexico when he passed a tax cut in New Mexico: "We need to stop talking about class warfare and the distribution of wealth," he said. "We need to start talking about economic growth, and reducing taxes puts us on the road to economic growth." Mr. Speaker, I cannot say it better.”