[Congressional Record Volume 140, Number 8 (Thursday, February 3, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: February 3, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                    NEW JERSEY IS OPEN FOR BUSINESS

  (Mr. SAXTON asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. SAXTON. Mr. Speaker, during her inaugural speech, newly elected 
New Jersey Gov. Christine Todd Whitman, alluded to the fact that, over 
the last 4 years, New Jersey has lost more than 200,000 jobs to 
neighboring States who offered businesses a much lower tax structure.
  She said,

       Let's not keep economic growth waiting another minute.
       If President Clinton and his Congress can reach backward 
     into time and raise your taxes retroactively, your Governor 
     and your legislature can cut them retroactively.
       That is why I am asking my partners in the [State] 
     legislature * * * to enact a 5 percent income tax cut for 
     every family in New Jersey effective January 1, 1994--17 days 
     ago.
       Second, I am asking the legislature to eliminate all income 
     taxes on those earning less than $7,500, again retroactively 
     to January 1 this year. Those who are struggling the hardest 
     need a tax cut the most.
       Third, I am asking the legislature to cut the corporate 
     business tax to 9 percent, again effective January 1 this 
     year.
       We will be competitive. No more losing our employers to job 
     raids by low-tax States.
       New Jersey is open for business.

  Mr. Speaker, Governor Whitman's speech is a must read for all 
Americans. Therefore, later today I will insert her complete inaugural 
speech in the Extensions of Remarks section of today's Congressional 
Record.

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