[Congressional Record Volume 143, Number 65 (Friday, May 16, 1997)]
[House]
[Page H2796]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 DEMOCRATS INSIST THAT THE BUDGET BENEFIT THE MIDDLE-CLASS AS MUCH AS 
                              THE WEALTHY

  (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, today House Democrats sent a letter to the 
Republican chairman of the Committee on Ways and Means in support of 
middle class families.
  The gentleman from Texas [Mr. Archer] has announced that the proposed 
capital gains tax cuts contained in the budget agreement will be 
effective no later than May 7, 1997, even though there is no tax cut 
plan yet. This would allow investors to be able to think ahead as to 
how they might deal with their further investments.
  Over 100 Democrats are going to ask the gentleman from Texas today to 
show the same consideration to the President's education tax cuts. The 
majority of the benefits from the Republicans' proposed capital gains 
tax cut will go to the richest 1 percent of the population. Democrats 
are standing up for the folks who are not making the 6-figure incomes, 
the families who could use some tax relief. Let us help working 
families make the decisions about whether or not their kids can go to 
college.
  House Democrats are going to stand up to make sure that the deal 
includes a budget that is balanced in a way that is consistent with our 
priorities and our values as a Nation, and that includes showing, at 
the very least, the same consideration to working families as we show 
the richest of Americans.

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