[Congressional Record Volume 143, Number 112 (Friday, August 1, 1997)]
[Extensions of Remarks]
[Pages E1617-E1618]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          THE BALANCED BUDGET PLAN IS A GOOD DEAL FOR AMERICA

                                 ______
                                 

                            HON. JIM TURNER

                                of texas

                    in the house of representatives

                        Thursday, July 31, 1997

  Mr. TURNER. Mr. Speaker, I am proud to support the budget and tax 
bills that we are passing this week, fulfilling our commitment to the 
American people to balance the budget while maintaining our investments 
in the future. I came to Congress in January with a strong commitment 
to restoring fiscal responsibility to Washington. Since then, I have 
seen Democrats and Republicans alike recognizing the need to balance 
the budget. They have seen that we cannot continue running up debts for 
our children and grandchildren to pay. They have acknowledged that both 
parties must work toward solving the problem. This plan is the result 
of those bipartisan efforts.
  At the same time, this bipartisan plan recognizes that the American 
people need tax relief. We are cutting taxes in ways that will give 
meaningful relief to working families, family farms, and small 
businesses.
  The $500 tax credit for children will give some help to families that 
are trying to make ends meet. The tuition tax credits will expand 
educational opportunities and allow young people to get the education 
and training they need to succeed in an increasingly competitive 
economy. The increased exemption from inheritance taxes will let 
families hand their

[[Page E1618]]

farms, ranches, and businesses from one generation to the next without 
paying outrageous inheritance taxes. The reduction in capital gains 
taxes will encourage the kind of long-term investment that our country 
needs to expand economic opportunity and create jobs. And we will do 
this in the context of a balanced budget. This bipartisan plan gives us 
a chance to give American taxpayers a break, without breaking the bank.
  At the same time, we are making an important commitment to provide 
health insurance for children. In my home State of Texas, more than 1 
million children--23 percent--lack health insurance. This lack of 
health coverage is risky for children, heartbreaking for parents, and 
devastating for our country in the long run. Children who do not 
receive immunizations and other basic preventive care will cost us 
millions more down the road. Children without adequate health insurance 
will not get off to the right start in life, and they will not live up 
to their potential as adults. The funding for children's health 
insurance is a sound investment in the future of our country.
  This bipartisan budget plan proves that we can accomplish a great 
deal when we work together. We're balancing the budget for the first 
time in a generation. We're investing in education. We're preserving 
Medicare. We're extending health insurance to more children. And we're 
giving real tax relief to American families. This is a great day for 
this Congress, and for the American people.

                          ____________________