Lloyd Bentsen: “Now, this tax cut deal, which I voted for in the committee and I voted…”

On the recordJune 3, 1997

Now, this tax cut deal, which I voted for in the committee and I voted for on the floor, is predicated on stable growth, it is predicated on asset sales. And we have to be honest with ourselves that it may not work and we may end up with severe revenue losses down the road. We ought to take the steps now to ensure that we stay within the confines of the original deal, and that is what the Spratt motion would do. During that period, my colleague mentioned that assumption of 4 percent annual growth was never realized, and of course that is true when you look at the historical statistics. The same could be said about this: I think the gentleman is correct in many respects, we assume some very conservative economic statistics, particularly as it relates to growth rates. But if you look at some other statistics and compare them to historical average, we are using some pretty optimistic assumptions.

Said by

Lloyd Bentsen

Texas

Source

govinfo.gov

Editor's note · Context

Discussing the implications of a tax cut deal and economic growth assumptions.

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Lloyd Bentsen: “Now, this tax cut deal, which I voted for in the committee and I voted for on the floor, is predicated on stable growth…”

Editor's note · Context