[Congressional Record Volume 143, Number 106 (Thursday, July 24, 1997)]
[House]
[Page H5670]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  REPUBLICANS SHOULD COME BACK WITH A TAX PROPOSAL THAT HELPS AVERAGE 
                            WORKING FAMILIES

  (Mr. BLAGOJEVICH asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. BLAGOJEVICH. Mr. Speaker, let me give an example of who benefits 
under the Republican tax plan. Sandy Weill is a CEO who last year 
earned $94 million. Under the Republican plan, he would enjoy a capital 
gains tax cut adding up to $7 million. The average American family 
earns a little more than $32,000 per year. Their entire annual income 
is, now get this, only four one-thousandths as big as the capital gains 
tax cut Sandy Weill would get under the Republican plan.
  America has been good to people like Sandy Weill. With $94 million in 
income last year, I think he can wait for his tax cut. But most 
Americans cannot wait. They can use a tax cut now. Working families 
need it to pay their rent or mortgage, buy their groceries, raise their 
children, and maybe have a little left over for a rainy day.
  I implore my Republican colleagues to take a second look at their 
plan and come back with a proposal that actually helps average working 
families. I know they can do it. They just have to want to.

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