[Congressional Record Volume 143, Number 69 (Thursday, May 22, 1997)]
[House]
[Page H3175]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1030
      A BUDGET AGREEMENT THAT TAKES AMERICA IN THE RIGHT DIRECTION

  (Mr. THUNE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. THUNE. Mr. Speaker, the balanced budget agreement that was 
reached here the last few days and hours is not just financially sound, 
it is also philosophically sound, because it begins to address some of 
the fundamental problems and inequities in our tax system.
  In this country we value our families and our children, yet our tax 
system punishes those who want to start a family. This plan promotes 
families by providing a child tax credit. In this country we value 
frugality and saving for a rainy day, yet our current tax system 
punishes those who save. The budget agreement promotes saving by 
providing for expanded IRA accounts, and gives incentives for those who 
want to put away for retirement.
  Finally, in America we are taught to value hard work and the things 
that go with it, like being able to provide for our children when we 
are gone. The death tax punishes those who try to pass their property 
on to the next generation. This budget agreement would allow one to 
pass more on to their children before they have to pay taxes on it.
  This budget agreement takes America in the right direction. I think 
that is evidenced by the fact that over 300 Members of this body, over 
75 percent of this institution, supported it. I urge my colleagues in 
the Senate to do the very same thing and to support it.

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