On the recordJuly 14, 2005
it is good to be back. And I cannot help but thank the gentleman from Florida for all his leadership on this issue and a variety of other issues not only in the State of Florida but around the country. We had our friends here on the other side of the aisle, good people, good Members of Congress, but a little flawed in their data. They were talking about how the President's tax cuts accounted for a 22 percent drop in the budget deficit, 22 percent from the prediction that they had had. And what I would like to say is, all of a sudden, the tax cuts are working now. All of a sudden, they are working. What they forget to tell people is that the decrease in the deficit, and I have news reports here from five or six different news organizations, is the President said that this 22 percent drop vindicates his tax-cutting policies, and I just want to read several accounts here. This is from NBC News: ``An independent budget analyst said that the improvements are almost all the result of one-time events, including the expiration of a 1-year corporate tax holiday. There was also an increase in taxes paid on investment gains from last year's stock market run-up.'' The Wall Street Journal said: ``private- and public-sector analysts remained unimpressed given the fiscal pressures just ahead . . .…
Source
govinfo.gov




