On the recordMarch 9, 1994
I think the comment the gentleman just made is so important. We are not trying to give away for today somebody's savings for tomorrow. What we are saying is that when the administration raised taxes by nearly $300 billion, we do not want that. We did not want it last year, and we are prepared to say where we would reduce spending in order to give them this tax relief. This is, basically, only canceling out part of the tax increase that we had last year. Not only that but, you know, what this does, it allows us to keep the President's commitment to middle-income families. Do you want to know something else? I think he will be around with a proposal that will be very much like this. So, I say why not now? Because we have got the way to pay for it. Let us give them the relief now. You know, when he was Governor, he, along with a whole host of people in this body right now, signed onto the fact that they wanted to give $1,000 tax credit per family. I do not want to monopolize the time here; I just want to thank the gentleman from South Carolina for working on creative proposals to downsize the Government so that we can not only reduce the deficit but also help American families. One other point: The investments we make in allowing the private sector to depreciate plant and equipment, you see, that is going to improve things here. That is going to create jobs, generate more revenue.
Source
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