[Congressional Record Volume 141, Number 62 (Tuesday, April 4, 1995)]
[House]
[Pages H4157-H4158]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                THE TRUTH ABOUT THE BUDGET AND TAX CUTS

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentlewoman from Texas [Ms. Jackson-Lee] is recognized for 5 minutes.
  Ms. JACKSON-LEE. Mr. Speaker, I am really taking the time because I 
think that, beyond the comments about jewels and gold and crowns, we 
have a very important obligation to the American people really to take 
our reasonable time to be reasonable, to let you understand the facts.
  I know there have been a lot of cross signals, a lot of rebutting of 
what the tax cut really means, but I would simply like to suggest that 
all of us of reasoned mind can argue about Social Security and the 
exemptions that may be proposed in this particular tax legislation, and 
the value of it.
  My question becomes: What is the rush? Because as we look at what can 
help senior citizens, and I certainly have supported programs to 
improve the conditions of senior citizens, and to ensure that the 
maximum income that they may earn as working senior citizens goes into 
the maintenance of their quality of life, but that is not really the 
issue. We've got a murky water here, muddy waters, if you might.
  First of all, no one will acknowledge that the revenue being reduced 
by this tax cut, without the Democratic alternative, is some $650 
billion over 10 years. Many of you would listen to that number and 
begin to say ``Well, it's way beyond my comprehension.''
  What is not beyond your comprehension, however, is the necessity for 
me to assure you that your grandchildren will not have a deficit so 
overwhelming that they will have no quality of life.
  The importance when I speak to working people in my district, they 
are true Americans, they are patriots, because they believe in this 
Nation. They want us to be prepared militarily. They want to have the 
opportunities for affordable housing for their citizens. They want to 
make sure that those young people seeking an opportunity can do work 
study and college loans, but yet, rather than giving them those 
opportunities, we are burdening them with a deficit that is so 
overwhelming it is incomprehensible.
  Let me explain to you again, as I had the opportunity to talk to the 
gentleman from Illinois, I like the idea of a child tax credit, because 
every child 
[[Page H4158]] is worthy, but now we are knocking heads with the rich 
children and the poor children, for most of
 the tax credit goes to families way beyond your imagination in terms 
of income.

  Those people that are at the lowest income level, who do pay taxes, 
they only bear 3.5 percent of the benefit of a child tax credit. 
Twenty-four million children in this Nation would not receive any 
benefit from the tax credit. What that means simply is we are knocking 
heads with rich children and poor children. As far as I am concerned, 
all children are worthy, and there should be an applicable tax credit 
that goes across the line.
  Then the smoke and mirrors that I talked about earlier, because all 
of the married couples are running to their tax preparers, shouting 
about the marriage penalty. I believe in family. We should affirm 
family. It is important that we ensure that people do the right thing, 
and that is to be married.
  But yet this particular tax benefit, in quotes, again the smoke and 
mirrors game, only provides an average maximum benefit of $145 per 
couple, which is less than the current marriage penalty. The average 
marriage penalty for couples earning between $30,000 to $40,000 is 
$260, and $1,540 for couples earning between $75,000 and $100,000.
  Wouldn't we be better suited to tell you the truth, and tell you that 
it is more important to invest in your young people, for them to have 
college loans and work study programs; that we want to ensure that 
school lunches are maintained; and yes, we want to infuse energy into 
the economy, so that you will have jobs?
  I certainly believe that we must begin to look seriously at making 
sure that the economy is such that you will want to invest and buy 
businesses and transfer property. We have to support that. That is the 
true American dream.
  However, let me tell you what happens to this present tax break. For 
someone earning under $75,000, oh, you think you are going to get a big 
lump of money. It will only buy you a couple of tanks of gas for the 
family car. You only average $36 a month.
  I have been in local government and I have had taxpayers say ``The 
heck with that. I want good parks. I want police. I want fire persons 
to come to the serious crises, the fires, in the necessary time.'' 
Citizens of America believe in government, if it does the right thing, 
but $36 a month, a couple of tanks of gas, and then we cut at the very 
fabric of what we need to ensure that we are good governments.
  What does a $200,000 a year person get? Cadillacs, Mercedes, and 
BMWs. Let us have the truth be told about this tax cut. Let us tell the 
American people the real truth and get rid of the smoke and mirrors. 
Let us work together to get a better tax cut.


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