[Congressional Record Volume 141, Number 63 (Wednesday, April 5, 1995)]
[House]
[Page H4191]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       THE TAX BILL AND CUTS IN PROVISIONS FOR EDUCATION BENEFITS

  (Mr. KENNEDY of Rhode Island asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. KENNEDY of Rhode Island. Mr. Speaker, the question before us 
today is what kind of tax relief are we going to give the American 
people. The difference could not be clearer. The Republicans' tax break 
would benefit 76 percent of those families earning $100,000 or more. If 
you look at the Citizens for Tax Justice, they say 71 percent of the 
total capital gains tax breaks go to those making in excess of 
$200,000.
  Who pays the bill? It is young people who pay the bill. It is those 
who want to go out and get those well-paying jobs that the Republicans 
talk about. However, how can we expect them to get those well-paying 
jobs if they cannot first afford the higher education that they are 
going to need to get if they are to land those jobs?
  Mr. Speaker, it was wrong to repeal the interest deduction on student 
loans in the 1986 tax reform bill, and it is worse that the Republicans 
have rescinded the amount of the money for subsidizing those student 
loans that allow them to get an education, and not have the interest on 
those student loans accrue until after they graduate. That is not 
right.
  Members know that the cost of higher education is going up, and we 
should not make it more difficult for students.


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