[Congressional Record Volume 143, Number 62 (Tuesday, May 13, 1997)]
[House]
[Page H2497]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             BALANCED BUDGET AGREEMENT IS SOLID FIRST STEP

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Mr. Speaker, as a member of the House Committee on the 
Budget, I rise in strong support of the balanced budget plan of 1997. 
After months of unceasing work, the Republican majority has delivered a 
balanced budget plan where every American wins.
  While all the details have not been worked out yet, like the level of 
funding for transportation, this agreement is a solid first step in the 
Republican goals of balancing our budget, reducing the size and scope 
of the Federal Government and providing permanent tax relief for 
American families.

                              {time}  1415

  With this agreement, American families will pay $135 billion less in 
taxes over the next 5 years. It will save Medicare for seniors, produce 
approximately $700 billion in entitlement savings over the next 10 
years, and finally, ensure that every American benefits from the 
economic boon of a balanced budget by 2002. That means lower interest 
rates, higher-paying jobs, and long-term economic growth.
  Mr. Speaker, compromise is essential with divided government. I 
applaud those who achieve this compromise. I look forward to passing 
the balanced budget plan of 1997 and the accompanying bills, which will 
be a first step in getting our fiscal house in order.

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