[Congressional Record Volume 141, Number 165 (Tuesday, October 24, 1995)]
[House]
[Page H10646]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 NO INTENTION OF RAISING TAXES TOO MUCH

  (Mr. WELDON of Florida asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. WELDON of Florida. Mr. Speaker, last week the President made an 
astonishing confession. He said that his tax increase of 1993 might 
have been too much. What he failed to admit is that in his 1992 
campaign he promised to cut taxes, not increase them.
  Republicans promise to cut taxes for the middle class and small 
business, not raise them, and that is just what we are going to do. Our 
$500 per-child tax credit will eliminate Federal taxes for families 
making less than $25,000 a year. Those making between $25,000 and 
$30,000 will have their Federal liability cut in half. In addition our 
capital gains tax reductions will benefit the middle class. The IRS 
found that 77 percent of those who paid capital gains in 1993 earned 
less than $75,000.
  You won't hear this Republican-led Congress apologizing to the 
American people for raising taxes too much, because unlike the 
President, we have no intention of doing so.

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