[Congressional Record Volume 142, Number 48 (Tuesday, April 16, 1996)]
[Extensions of Remarks]
[Pages E536-E537]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      PROVIDING FOR CONSIDERATION OF HOUSE JOINT RESOLUTION 159, 
               CONSTITUTIONAL AMENDMENT RELATING TO TAXES

                                 ______


                               speech of

                        HON. WILLIAM J. MARTINI

                             of new jersey

                    in the house of representatives

                         Monday, April 15, 1996

  Mr. MARTINI. Mr. Speaker, I rise today in support of the American 
taxpayer and in support of this historic amendment being considered by 
the House of Representatives.
  House Joint Resolution 159, the tax limitation amendment, will 
require a two-thirds supermajority vote of the Congress to raise 
Federal taxes.
  Mr. Speaker, this amendment is necessary because the average family 
of four pays about 38.2 percent of their income in Federal, State, and 
local taxes. More than 3 hours of every 8-hour workday are dedicated to 
the tax man.
  To put it another way, the average American works from New Year's Day 
to May 6 just to pay off his or her tax burden.
  We believe that Americans are taxed too much, not too little. We also 
believe that individuals and families can better decide how to spend 
their money than Uncle Sam.
  Unfortunately, most Americans are scared, they are feeling squeezed 
by falling wages and mixed signals on status of the economy.
  People are anxious about their economic future and job security. In 
New Jersey, we see corporations like AT&T laying off thousands of 
employees and the Thomas' English Muffins plant closing their doors in 
Totowa.
  Unfortunately, millions of working families gather around the kitchen 
table each week and wonder why it is they can't seem to make ends meet. 
They work longer hours, they take second jobs, but they feel like they 
are running in place.
  In his State of the Union speech, President Clinton stated ``our 
economy is the healthiest it has been in three decades.'' The President 
proudly pointed to statistics from the Department of the Treasury as 
well a robust year on Wall Street.
  However, someone forgot to tell the President to check with middle-
class America because he has failed to recognize the importance of what 
we refer to as the ``Clinton Crunch.''
  Secretary of Labor, Robert Reich, likes to point out that real wages 
for the median worker have fallen 4.6 percent since 1979. What he 
doesn't tell the American people is that half the wage decline has 
occurred under the Clinton administration.
  In fact, the only period of sustained wage growth in the last 17 
years came during the Reagan administration. You may recall former 
President Reagan advocated a policy of smaller government, lower taxes, 
and less intrusion into the lives of Americans. Sound familiar?
  Mr. Speaker, we don't blame workers for falling wages, we simply 
believe that they are not being given the necessary tools to compete in 
the high-technology economy of the 1990's.
  Productivity is stagnant because the rate of investment in new 
equipment in only half of what it was a decade ago.
  Investment has been curtailed because our savings rate is low.
  American families are not saving as much because Federal taxes are at 
an all time high.
  We must provide working families with tax relief, that is what 
today's amendment is all about. If Congress wants to raise taxes it is 
going to require a two-thirds vote of this legislative body.
  One-third of the States currently have their own form of the tax 
limitation amendment and not surprisingly those States had lower taxes, 
more economic growth, and more job creation than States without a tax 
limitation law.
  Mr. Speaker, the facts are clear, tax relief benefits working 
families and working Americans. In fact, 74 percent of the proposed 
$500-per-child family tax credit will go to families making less than 
$75,000 a year.
  Put another way, the $500-per-child tax credit means families earning 
less than $25,000 will no longer pay Federal taxes, those earning 
$30,000 will have 48 percent of their Federal tax liability wiped out.
  With regards to capital gains tax relief, an IRS analysis of 1993 tax 
returns found that 77 percent of the tax returns reporting capital 
gains were filed by taxpayers with adjusted gross incomes of less than 
$75,000; 60 percent had adjusted gross incomes of less than $50,000.
  Lower taxes benefit all Americans, not just the wealthy.
  Last year Congress passed a plan to relieve some of the burden on the 
middle class. We passed a $500-per-child income tax credit for middle-
income families, we passed capital gains tax reform, and we passed IRA 
self-loan legislation.
  This Congress wants you to earn more and keep more of what you earn. 
Had our balanced budget been signed into law, instead of being vetoed 
by President Clinton, families could look forward to doing more with 
the money they earn.
  Today, as Americans go to the post office to mail their tax returns, 
we will vote on a constitutional amendment to require a two-thirds 
supermajority to raise taxes.
  If the two-thirds rule had been in existence in 1993, we would have 
stopped President Clinton's tax hike, and American families would now 
be paying less for gasoline, small businesses would be creating more 
jobs, and our retired parents and neighbors would be paying less in 
taxes.
  A tougher standard to raise taxes will ensure that taxes are raised 
only when there is a broad consensus and when it is absolutely 
necessary.
  This safeguard will help keep spending in check because Congress 
won't be able to take the easy way out and raise Federal taxes.
  Mr. Speaker, House Joint Resolution 159 is another example of how the 
new majority in Congress is fulfilling its promises and making a 
difference to the American taxpayer.

[[Page E537]]



                      CELEBRATING TUFTONIA'S WEEK

                                 ______


                          HON. BILL RICHARDSON

                             of new mexico

                    in the house of representatives

                        Tuesday, April 16, 1996

  Mr. RICHARDSON. Mr. Speaker, in just a few short weeks, many of us 
will be attending college graduations watching as countless numbers of 
our constituents finish their college education, graduate, and become 
alumni.
  As seasoned alumni know, you always maintain a special tie to your 
college. At my alma mater, Tufts University actively encouraged alumni 
to celebrate their college days by participating in annual ``Tuftonia's 
Week'' celebrations. It is a special time for more than 88,000 alumni 
of Tufts to turn their thoughts to Tufts and to get together with 
fellow Tuftonians, to reminisce with old friends.
  Tuftonia Week also allows the university to focus attention on its 
enormously successful alumni program called, ``TuftServe.'' Last year, 
Tufts alumni contributed more than 19,000 volunteer hours of community 
service. This work enhance the quality of life in our local communities 
and enables alumni to maintain a close relationship with their alma 
mater.
  As my colleagues address soon-to-be alumni at college graduation 
campuses around the country, may I suggest that we take with us a page 
from Tuftonia's Week and encourage college graduates to remember and 
honor their college years by offering and volunteering their knowledge 
and expertise in their communities. Such an endeavor by my colleagues 
would be a great tribute to the volunteer commitment of many Tufts 
University alumni as well as an outstanding celebration of Tuftonia's 
Week.

                          ____________________