On the recordJuly 31, 1997
only in political Washington would a mom and dad, or both, working and earning about $40,000 in their family, be considered wealthy. I want to congratulate the Republican chairman of the Committee on Ways and Means and all the members of the Committee on Ways and Means for helping to put together a responsible bill. For the first time in 15 years, we are going to enjoy some tax relief. For the American people saying ``What is the big deal? You should have been here years ago?'' but to give $500 per child tax relief, to provide educational incentives, to make sure that the largest investment to most families, their family residence, they do not get taxed by Uncle Sam, they will get the relief of up to $500,000, that is good. To provide for job-creating capital gains relief and small business exemptions, up to 100-percent exemption for small businesses paying health care premiums, protection from estate taxes of $1.3 million, for family farms and for small businesses, this is the right thing to do. Some $600 billion the Democrat Congress took away from the American people in the early 1990's. To give $94 billion back is not only the right thing, it is long overdue. I commend my colleagues for their hard work.
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