I like this tax bill. I think it is good public policy. But for the first time in 29 years we now are in a position where we can say to the American people that there is more money coming into this town than leaving. This is just a projection. Beyond that, what I hate to see us do is there has been a lot of political bloodshed to get to this point of financial integrity once again in this town in terms of our budget. Now, no one can dispute that this is a unified budget, and if one took the payroll taxes, the Social Security taxes that come in here out of the unified budget or out of the budget, we would not have a surplus. That is a fact. That is not a political argument. We still are running an operational deficit. I do not know how many people paid the price in 1993. I know President Bush paid a miserable price in his career for doing the right thing in 1990 to get us to the point where we are not running a $290 billion deficit every year. I am not for any new spending programs, and I am not going to be for this tax cut today. We cannot pay for it. Last year, we had a balanced budget. We paid for the tax bill last year. This one is not paid for; and, for that reason, I think it is financially irresponsible to do this what we are about to do today. I would urge my colleagues not to support this matter today.
Editor's note · Context
Opposing a tax cut proposal during a floor speech.
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