[Congressional Record Volume 143, Number 87 (Friday, June 20, 1997)]
[Extensions of Remarks]
[Page E1281]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         REPUBLICAN TAX RELIEF

                                 ______
                                 

                            HON. RON PACKARD

                             of california

                    in the house of representatives

                         Friday, June 20, 1997

  Mr. PACKARD. Mr. Speaker, I rise today to speak on behalf of 
Republican tax relief. I urge my colleagues to put themselves in the 
shoes of working class America when you consider this bill.
  Working class, middle-income Americans struggle to make ends meet. 
For President Clinton, to consider middle-class Americans that earn 
$75,000 a year as rich is simply ludicrous. Many middle-class families 
that earn that much are double income families.
  Our plan provides tax relief for working women in double-income 
families. It also provides tax relief for parents with children in 
child care by indexing the dependent care tax. Senior citizen couples 
who make under $41,200 a year will enjoy a 10 percent capital gains 
rate under the Republican proposal.
  With our bill, middle-income families will benefit from a $500 per 
child tax credit. A family that has a child today will receive an 
estimated $10,309 in tax relief under the Republican plan by the time 
that child is 18. The tax relief will also create education investment 
accounts that will allow parents to save tax-free for their children's 
higher education.
  Just 4 years ago under a Democrat-controlled Congress, American 
families were hit with the largest tax increase in the history of the 
world. It has been 16 years since Americans had any meaningful tax 
relief. Mr. Speaker, it is time to give Americans what they deserve and 
the Republican plan for tax relief delivers for America's families. I 
urge my colleagues and the President to strongly support it.

                          ____________________