[Congressional Record Volume 145, Number 99 (Wednesday, July 14, 1999)]
[House]
[Page H5464]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     FINANCIAL FREEDOM ACT OF 1999

  (Mr. CALVERT asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. CALVERT. Mr. Speaker, I rise today to wholeheartedly endorse the 
Financial Freedom Act of 1999, legislation sponsored by the gentleman 
from Texas (Mr. Archer) to provide broad-based tax relief to help 
individuals and families make ends meet. This is common sense 
legislation that will not only bring tax relief to all Americans but 
also prevent special interests in Washington from spending the budget 
surplus on a myriad of unnecessary new government programs.
  I particularly support the inclusion of death tax relief. The death 
tax has robbed millions of Americans, especially our Nation's farmers, 
of their hard-earned money and their ability to leave a legacy to their 
children and grandchildren. The death tax unfairly punishes those who 
have worked hard their entire lives to achieve the American Dream and 
provide a safe and secure environment for their families.
  Death tax relief also will allow family businesses and farms to 
remain in the family, ensuring that both the business and the jobs it 
provides continue to live on for the next generation.
  The bill of the gentleman from Texas also incrementally decreases the 
tax burden, eliminating it over the next 10 years. This balanced and 
fair approach will provide immediate relief in the short term, while 
not making unreasonable demands on our budget surplus.
  Americans currently pay the highest taxes since World War II, and for 
the first time in a generation, we have the financial strength to 
safely return a portion of our surplus to hard-working Americans. This 
is solid legislation, and I urge all my colleagues to support it.

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