[Congressional Record Volume 146, Number 108 (Thursday, September 14, 2000)]
[Extensions of Remarks]
[Pages E1479-E1480]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 MARRIAGE TAX RELIEF RECONCILIATION ACT OF 2000--VETO MESSAGE FROM THE 
                     PRESIDENT OF THE UNITED STATES

                                 ______
                                 

                               speech of

                          HON. KAREN McCARTHY

                              of missouri

                    in the house of representatives

                     Wednesday, September 13, 2000

  Ms. McCARTHY of Missouri. Mr. Speaker, I rise today to express my 
strong support for marriage penalty tax reform. Americans should not 
have to pay additional taxes simply because they have made the decision 
to get married. However, I will continue to oppose the marriage penalty 
tax relief as proposed in the bill under consideration today because it 
offers the majority of the relief to wealthy individuals subject to 
this tax without regard to the economy, future revenues or tax 
fairness. I will vote to sustain President Clinton's veto of this 
misguided effort.
  Many middle class Americans believe they do not receive value for 
their taxes. An important component of any tax reform debate should 
focus on renewing taxpayer's confidence that they are not only being 
taxed fairly, but that their tax dollars are being spend wisely. It 
concerns me that we are considering a marriage penalty tax relief 
proposal today without a broader discussion of reform of our tax 
policy. We don't make decisions in a vacuum and the decisions we make 
today will have an impact on future revenues and spending on priority 
initiatives.
  I want to work with my colleagues on both sides of the aisle to come 
up with meaningful, fiscally responsible marriage penalty tax relief. 
We can afford to correct this oddity in the tax code and offer middle 
class families much needed relief. Unfortunately, the bill before us 
today does not do that. A couple making $31,000 annually would get a 
tax cut of only $182 under this bill, while the wealthiest five percent 
of couples would be getting a tax cut of approximately $1000 each year. 
Further, many of these higher-income families who would receive the 
majority of the relief under this bill are not impacted by the existing 
marriage penalty. Consequently, the bill as currently drafted gives the 
most affluent a marriage bonus. This isn't fair, it isn't responsible 
tax policy and it isn't affordable.
  The bill vetoed by the President costs $292 billion over 10 years. 
This tax cut is $110 billion more than the version which passed the 
House of Representatives earlier this year. A tax cut of this size 
passed without regard to other tax reform needed, such as the estate 
tax, and without regard to other dynamics in the economy is 
irresponsible. Adoption of this tax cut will greatly jeopardize our 
nation's ability to pay down the national debt, comprehensively reform 
the tax code and ensure the stability of Social Security and Medicare.
  I am hopeful that by working together we can come up with an economic 
strategy which provides fiscal security by using any surplus pay down 
our publicly held debt and make Social Security and Medicare solvent, 
while also providing a tax relief package that helps working families. 
The bill before us today doesn't do this and I cannot support it. I 
hope our actions today will bring the House leadership to the table to 
design a measure that the President can sign into law.

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