[Congressional Record Volume 141, Number 65 (Friday, April 7, 1995)]
[Extensions of Remarks]
[Page E822]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     CHECK-OFF FOR OUR CHILDREN ACT

                                 ______


                            HON. DAVID MINGE

                              of minnesota

                    in the house of representatives

                        Thursday, April 6, 1995
  Mr. MINGE. Mr. Speaker, Representatives Jan Meyers, Peter DeFazio, 
Tillie Fowler and I are introducing a bipartisan bill to provide the 
American taxpayer with a way to contribute directly to eliminating the 
national debt. This legislation allows citizens to check a box on their 
Federal tax return and indicate the amount of the tax refund each 
citizen would like to direct to retire the national debt. The Check-Off 
for Our Children Act will form a partnership for America's future 
between citizens and the Congress of the United States to reduce our 
national debt and to reclaim the economic future of the next generation 
of Americans.
  I think that everyone would agree that America is at a crossroads in 
history. The next 20 years will determine whether we will let our 
staggering debt turn the American dream into a nightmare. The growth of 
our economy, creation of meaningful jobs, a reduction of Federal 
spending, revitalization of our infrastructure and the preservation of 
our environment for future generations all depend upon our ability to 
reduce our national debt. We have all benefitted from these deficits 
over the years, but now it is time to own up. Unless the Congress and 
our citizens act in unison now, the Federal Government's sole function 
will soon be to transfer tax dollars to meet interest payments on the 
debt and the rapidly expanding entitlement programs.
  There is now a growing willingness in the hearts and minds of the 
American people to play an active role in retiring the national debt, 
thanks in part to the efforts of Lucile McConnell and The Fund to End 
the Deficit. Lucile has worked tirelessly to educate Americans about 
the threat the deficit poses to future generations and opportunities 
they have to help solve solve this problem. This desire can be met by a 
little known Federal statute, Public Law 87-58, which was signed into 
law in 1961 by President Kennedy. This law enables every citizen to 
contribute directly to retiring the national debt. In conjunction with 
the Check-Off for Our Children, taxpayers can simply mark a check-off 
box on their tax returns to designate a portion of their tax refunds on 
the condition that it be used only to retire the national debt.
  The greatest principle of democracy is that we each have a choice. 
The Check-Off for Our Children gives each of us a choice to turn back 
to the principles underlying our democracy: responsibility, 
participation, citizenship, and fiscal restraint. Each of us must take 
responsibility for our country and our future. We in Congress have a 
responsibility to make the difficult choices required to cut Federal 
spending and balance our budget. The Check-Off will ensure that every 
American has the opportunity to make a direct contribution to retire 
the national debt.
  As we reduce the national debt, we will realize at least three 
immediate benefits. We will reduce the risk of inflation as excess cash 
is applied to debt retirement. We will stabilize interest rates. And 
most important, as we reduce the amount we must spend on interest every 
year, we will also reduce overall Federal budget requirements. The 
benefit for future generations goes far beyond these three--the benefit 
to our children is the inheritance of a renewed America.


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