[Congressional Record Volume 141, Number 63 (Wednesday, April 5, 1995)]
[House]
[Page H4184]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


             THE TRUTH ABOUT THE CONTRACT'S FAMILY TAX CUTS

  (Mr. RIGGS asked and was given permission to address the House for 1 
minute.)
  Mr. RIGGS. Mr. Speaker, to reduce the tax burden on working middle 
class families we Republicans are proposing a $500 a year tax credit 
for each child under 18 years old in tax-paying families with income 
less than $200,000. Using their tired refrain of class warfare, 
Democrats are calling our proposal a proposal that would benefit only 
the rich. Let us take a look at the truth.
  The families of 52,000,000 American children, which comes to 
35,000,000 families, are eligible for the $500 per child tax credit. In 
fact, according to the House Committee on Ways and Means, the family 
tax credit would lessen the tax burden on a vast majority; in fact, 89 
percent of these families. The $500 per child tax credit would 
completely eliminate the Federal tax burden for 4.7 million working 
families at the lowest income levels.
  The bottom line: The contract tax credit will provide families with 
$120 billion in tax relief over the next 5 years. Just about all 
families will benefit, the Democrats' class warfare notwithstanding. 
Family, children, jobs; that is what the Republican tax credit is all 
about.

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