[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]




[[Page H 10646]]


                 BUDGET RECONCILIATION WILL LOWER TAXES

  (Mr. NORWOOD asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. NORWOOD. Mr. Speaker, I am here to tell you something that the 
people back home in Georgia thought they'd never hear me say. I am here 
to tell you that I agree with the President. Mr. President, I do 
believe you raised taxes too much. And that's why this week we are 
going to pass a budget reconciliation that lowers taxes. We will allow 
seniors to keep more of the money they earn. We will lower the capital 
gains rate; 77 percent of those benefiting from a lower capital gains 
rate will have an income of less than $75,000 a year. And we will pass 
a $500 per child tax credit, which will eliminate the tax burden for 
families making less than $25,000 and will cut the tax liability of 
those making between $25,000 and $30,000 in half. We are cutting taxes 
to benefit seniors, families, and the middle class. That's exactly what 
we were elected to do.
  Mr. President, 2 years ago, you took away $260 billion; and this 
week, we're going to refund that money.
  The SPEAKER pro tempore (Mr. Foley). The Chair would advise Members 
to address the Chair, not the President of the United States.

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