[Congressional Record Volume 143, Number 45 (Wednesday, April 16, 1997)]
[House]
[Pages H1547-H1548]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 TAX CUTS FOR THE RICH AT THE EXPENSE OF MIDDLE CLASS WORKING FAMILIES

  (Ms. DeLAURO asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. DeLAURO. Mr. Speaker, it is the same old song and dance here on 
Capitol Hill. My colleagues on the other side of the aisle are 
proposing large tax cuts for the rich at the expense of middle class 
working families.
  The latest tax proposal put forth by the Speaker of the House is to 
eliminate all capital gains and estate taxes,

[[Page H1548]]

which would cost a staggering $300 billion over the next 5 years. Who 
benefits from these cuts? The wealthiest 5 percent of Americans. And 
who pays for these cuts? Working families.
  Do not just take my word for it. USA Today estimated on Monday that 
it would cost the average American family $400 a year to pay for this 
tax windfall for the wealthy.
  It is time to stop proposing huge tax breaks for those who need it 
the least and to start providing targeted tax relief for those who need 
it the most: Middle class American families.

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