[Congressional Record Volume 142, Number 2 (Thursday, January 4, 1996)]
[House]
[Page H121]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   NEGOTIATING FOR A BALANCED BUDGET

  (Mr. FOLEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. FOLEY. Mr. Speaker, we are here today because we want to open the 
Federal Government. Our side is not looking to hurt Federal employees. 
I just want people to recognize that we are in a very, very difficult 
time of trying to balance the Federal budget. I think the other side 
needs also to recognize that we are making some progress.
  President Clinton the other day decided that he would support a 
reduction in the capital gains tax, something that the other side has 
called ``a tax cut for the rich.'' The President now agrees, and I 
think it is incumbent, with the President's assurance that he will 
support a capital gains tax, that we give a little, that we work to 
negotiate, that we seek to reopen the Government.
  The bottom line is a 7-year balanced budget, CBO, OMB, make sure they 
are real numbers, honest numbers that the American public can agree to, 
and we can resolve the stalemate here in Washington. But the American 
public, both Democrats and Republicans, universally agree that a 
balanced budget can and should be done in 7 years.

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