[Congressional Record Volume 140, Number 76 (Thursday, June 16, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[Congressional Record: June 16, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                       AMERICAN ECONOMY IMPROVING

  (Mr. STUPAK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. STUPAK. Mr. Speaker, I am pleased to join my colleague this 
morning to talk about the economy. Back last August was a very tough 
vote on the Omnibus Budget Reconciliation Act. We stood tall and said 
we would invest in American people, and we did, through the WIC 
program, through increased money for Head Start, for Childhood Hunger, 
and through the National Service Program.
  We said we would reduce the deficit, and we did, from $320 to $180 
billion, on September 30, 1994. We said we would keep the economy 
growing, and we did, through a small business tax deduction and a 50 
percent reduction in the capital gains tax.
  It was a tough vote, sure, because they had tax increases for those 
households who made more than $180,000 a year. What did H&R Block tell 
us? When we filed our income taxes in 1993, who paid more income tax? 
1.2 percent of the richest Americans. Some 16.6 percent of the 
Americans actually saw a tax decrease because of the expansion of the 
earned income tax credit. And 82.8 percent of us saw no change in our 
income tax rate at all.
  We are working to put our fiscal house in order; not through 
rhetoric, but through real fiscal discipline and through real 
leadership.

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