[Congressional Record Volume 145, Number 123 (Tuesday, September 21, 1999)]
[House]
[Page H8391]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            REPUBLICAN TAX CUT IS FAIR, PRUDENT AND BALANCED

  (Mr. STEARNS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. STEARNS. Mr. Speaker, let us set the record straight this 
afternoon about the Democrat accusations that the Republican tax relief 
package is huge, massive, gigantic, irresponsible.
  It starts very slowly, as a matter of fact, and it only goes forward 
if we have surpluses.
  Here are some figures that my colleagues will not hear from the 
Democrats: The tax cut for the first year, the fiscal year 2000, it is 
$5.3 billion. Now, out of an $8 trillion economy, that is not massive.
  The next year, 2001, it is $1.1 billion. Now, that is not huge. In 
the year 2002, it is $34.7 billion. In the year 2003, it is $53.1 
billion. In the year 2004, it is $61.7 billion.
  So, Mr. Speaker, over the next 5 years, the tax cuts will total about 
$156 billion. That is not risky. That is not irresponsible. These are 
the numbers, and these are the facts.
  This approach by the Republicans is balanced, fair, prudent, and a 
great tax cut for the American people.

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