[Congressional Record Volume 146, Number 30 (Thursday, March 16, 2000)]
[House]
[Page H1081]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        TAX CUTS THAT THREATEN TO BUST THE BUDGET ARE NOT NEEDED

  (Mr. SHERMAN asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SHERMAN. Mr. Speaker, we are now enjoying and have enjoyed for 
several years the fruits of fiscal responsibility but that fiscal 
responsibility was put at risk yesterday in the Committee on the 
Budget, where that committee approved huge tax cuts that threaten to 
bust the budget and endanger Social Security and Medicare.
  Earlier this month, we found out what types of tax cuts we were 
endangering our prosperity to finance, because this House passed not an 
increase in the earned income tax credit, not an increase in the 
standard deduction, no tax relief for working Americans but, rather, a 
huge tax cut where three-quarters of the benefit went to the top 1 
percent of wealthiest Americans.
  Mr. Speaker, the question in game show language seems to be, not who 
wants to be a millionaire or who wants to marry a multimillionaire but 
who wants to give huge tax cuts to multi-multimillionaires. It is time 
to return to fiscal responsibility.

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