[Congressional Record Volume 143, Number 95 (Tuesday, July 8, 1997)]
[House]
[Pages H4845-H4846]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   THE FAMILY ECONOMIC INCOME CONCEPT

  (Mr. BARTLETT of Maryland asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. BARTLETT of Maryland. Mr. Speaker, maybe some of my liberal 
friends on the other side of the aisle

[[Page H4846]]

can help me with a problem I am having. I am trying to get to the 
bottom of this family economic income business.
  For example, if I make $45,000 a year and I would like to apply for a 
loan, can I put down $75,000 a year as my income on the loan 
application form? After all, I heard this great news from my liberal 
friends that under this great new economic family income concept I am 
actually much, much richer than I think.
  Let us take another example. If I make $45,000 a year and I would 
like to buy a house, and I put down $75,000 a year as my income on the 
mortgage application, will they still send me to jail for lying on my 
form if they check to see what I really make?
  Mr. Speaker, will I be able to use the family economic income 
defense? Will the judge buy that? After all, I can say, Wait, judge, 
the Secretary of the Treasury himself said this was an honest way to 
calculate what people really make.
  I wonder.

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