[Congressional Record Volume 146, Number 52 (Tuesday, May 2, 2000)]
[Extensions of Remarks]
[Page E597]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   CONFERENCE REPORT ON HOUSE CONCURRENT RESOLUTION 290, CONCURRENT 
               RESOLUTION ON THE BUDGET, FISCAL YEAR 2001

                                 ______
                                 

                               speech of

                          HON. CASS BALLENGER

                           of north carolina

                    in the house of representatives

                        Thursday, April 13, 2000

  Mr. BALLENGER. Mr. Speaker, I am pleased to be able to vote today for 
the final version of the congressional budget for fiscal year 2001 (H. 
Con. Res. 290). Again, I wish to congratulate my colleagues on the 
House Budget Committee and their counterparts in the other body for 
their hard work in crafting a fiscal year 2001 budget and pushing it to 
passage ahead of schedule.
  First, this congressional budget keeps a lid on runaway federal 
spending. For the second year in a row, this budget devotes the entire 
Social Security surplus, totaling $161 billion in fiscal year 2001, to 
a lock box to prevent it from being used to finance other government 
programs. And, it proposes the creation of a $40 billion reserve fund 
over five years to be used to reform Medicare and provide prescription 
drug coverage for Medicare beneficiaries who need it. Simultaneously, 
it allows us to continue to pay down the public debt (a trillion 
dollars of it over five years), making it possible to eliminate the 
entire public debt by 2013.
  In addition, the Republican budget proposal calls for tax cuts of up 
to $150 billion over five years, including the elimination of the 
marriage penalty. It also contains tax relief for small businesses, 
phases out the estate or `death' tax, establishes tax incentives for 
educational assistance and tax relief associated with pending health 
care reform legislation.
  Finally, I am pleased to report that the Republican budget increases 
spending for primary and secondary education, including Pell Grants 
(which we have increased by about 50% since we assumed control of 
Congress in 1995); national defense and programs to support our 
military men and women; transportation; and veterans programs. In 
response to many of my constituents' concerns, it also decreases 
foreign aid expenditures. Again, I believe this budget fulfills my 
commitment to 10th District citizens to support budget reforms and 
fiscally responsible spending.

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