[Congressional Record Volume 145, Number 110 (Friday, July 30, 1999)]
[Extensions of Remarks]
[Page E1708]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                               TAX RELIEF

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                          HON. DAVID L. HOBSON

                                of ohio

                    in the house of representatives

                         Friday, July 30, 1999

  Mr. HOBSON. Mr. Speaker, I commend my colleagues in the Senate for 
moving forward with a companion measure to the substantial tax relief 
and debt reduction contained in the Financial Freedom Act of 1999 that 
this chamber approved last week.
  As we move towards a conference with the Senate, I want to urge my 
colleagues to continue to maintain the high priority we assigned to 
debt reduction.
  When I am back in Ohio's 7th district, my constituents ask me to make 
sure Congress is paying off its debts, the same way they have to make 
their credit card and mortgage payments.
  I agree with this approach, which will help ensure that we meet our 
future obligations while reducing the burden the debt represents for 
our children and grandchildren.
  We made the right decision this year, when Congress set aside two-
thirds of the surplus for Social Security and Medicare. This will help 
keep Social Security and Medicare solvent for the long-term.
  Congress also pledged to pay down the national debt. This is a good 
step--we can put money back into the hands of taxpayers and maintain 
our fiscal responsibility.
  I was very supportive of the ``trigger'' mechanism which was included 
in the Financial Freedom Act to make sure that our debt reduction plans 
remain on track. I urge my colleagues to insist this sensible and 
responsible provision remains a key priority during our negotiations 
with the Senate to produce a final tax relief and debt reduction 
measure.

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