[Congressional Record Volume 141, Number 28 (Monday, February 13, 1995)]
[Senate]
[Page S2566]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 MIDDLE-CLASS BILL OF RIGHTS TAX RELIEF ACT OF 1995--MESSAGE FROM THE 
                            PRESIDENT--PM 17

  The PRESIDING OFFICER laid before the Senate a message from the 
President of the United States, transmitting, a draft of proposed 
legislation to amend the Internal Revenue Code of 1986 to provide tax 
relief for the middle-class, together with accompanying papers; which 
was referred to the Committee on Finance:

To the Congress of the United States:
  I am pleased to transmit today for your immediate consideration and 
enactment the ``Middle-Class Bill of Rights Tax Relief Act of 1995.'' I 
am also sending you an explanation of the revenue proposals of this 
legislation.
  This bill is the next step in my Administration's continuing effort 
to raise living standards for working families and help restore the 
American Dream for all our people.
  For 2 years, we have worked hard to strengthen our economy. We worked 
with the last Congress to enact legislation that will reduce the annual 
deficits of 1994-98 by more than $600 billion; we created nearly 6 
million new jobs; we cut taxes for 15 million low-income families and 
gave tax relief to small businesses; we opened export markets through 
global and regional trade agreements; we invested in human and physical 
capital to increase productivity; and we reduced the Federal Government 
by more than 100,000 positions.
  With that strong foundation in place, I am now proposing a Middle 
Class Bill of Rights. Despite our progress, too many Americans are 
still working harder for less. The Middle Class Bill of Rights will 
enable working Americans to raise their families and get the education 
and training they need to meet the demands of a new global economy. It 
will let middle-income families share in our economic prosperity today 
and help them build our economic prosperity tomorrow.
  The ``Middle-Class Bill of Rights Tax Relief Act of 1995'' includes 
three of the four elements of my Middle Class Bill of Rights. First, it 
offers middle-income families a $500 tax credit for each child under 
13. Second, it includes a tax deduction of up to $10,000 a year to help 
middle-income Americans pay for postsecondary education expenses and 
training expenses. Third, it lets more middle-income Americans make 
tax-deductible contributions to Individual Retirement Accounts and 
withdraw from them, penalty-free, for the costs of education and 
training, health care, first-time home-buying, long periods of 
unemployment, or the care of an ill parent.
  The fourth element of my Middle Class Bill of Rights--not included in 
this legislation--is the GI Bill for America's Workers, which 
consolidates 70 Federal training programs and creates a more effective 
system for learning new skills and finding better jobs for adults and 
youth. Legislation for this proposal is being developed in cooperation 
with the Congress.
  If enacted, the Middle Class Bill of Rights will help keep the 
American Dream alive for everyone willing to take responsibility for 
themselves, their families, and their futures. And it will not burden 
our children with more debt. In my fiscal 1996 budget, we have found 
enough savings not only to pay for this tax bill, but also to provide 
another $81 billion in deficit reduction between 1996 and 2000.
  This legislation will restore fairness to our tax system, let middle-
income families share in our economic prosperity, encourage Americans 
to prepare for the future, and help ensure that the United States moves 
into the 21st Century still the strongest nation in the world. I urge 
the Congress to take prompt and favorable action on this legislation.
                                                  William J. Clinton.  
  The White House, February 13, 1995.
  

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