[Congressional Record Volume 149, Number 70 (Monday, May 12, 2003)]
[Senate]
[Page S6030]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mr. SHELBY (for himself, Mr. Miller, and Mr. Smith):
  S. 1040. A bill to promote freedom, fairness, and economic 
opportunity for families by reducing the power and reach of the Federal 
establishment; to the Committee on Finance.
  Mr. SHELBY. Mr. President, I rise today to once again introduce my 
flat tax bill, S. 1040. Although I fully support the President's plan 
for economic growth, I believe that we can do even better. Like the 
President's plan, my bill eliminates the double taxation of dividends. 
However, instead of retaining the current progressive tax rates that 
impede economic growth, S. 1040 creates a single rate for all 
taxpayers--seventeen percent when the tax is fully implemented--and 
gives tax-free treatment to all savings and investment, not just 
dividends.
  A major reason why I support the flat tax is because it will place 
more money into the hands of hardworking Americans and will allow 
individuals--not the government--to decide how to best spend their 
money. Lowering taxes gives Americans more money for a large number of 
things such as monthly bills, insurance coverage, educational costs, 
prescription drugs, and family getaways. Lowering taxes also makes it 
easier for Americans to plan for their future through private savings. 
Although I strongly believe in the importance of private savings, my 
bill leaves the Social Security system intact and, in fact, provides 
seniors with more money by repealing the current tax on Social Security 
benefits.
  I have said many times before that our current progressive tax system 
is unfair in that it punishes success. The only way to ensure true 
fairness is to adopt a single tax rate for all taxpayers. Transitioning 
to such a tax will not only increase the fairness of the tax code, but 
it will also increase the incentives to work and thus boost economic 
growth.
  The flat tax is not only fairer than the current income tax, but it's 
also undeniably less complex. Under a flat tax, taxpayers would be able 
to fit their return on a form the size of a post card. Rather than 
spending hours pouring over convoluted IRS forms, or resorting to 
professional tax assistance, the flat tax allows taxpayers to determine 
their taxes quickly and easily. Paying taxes may never be a pleasant 
experience, but at least under a flat tax it wouldn't be mind-boggling.
  I fully realize that the bill I am introducing today is a monumental 
shift from the current tax code. However, we must not allow the 
enormity of the task to deter us from enacting better, more efficient 
tax laws. I therefore urge my colleagues to join me in support of this 
legislation.
                                 ______
                                 
      By Mr. COLEMAN:
  S. 1042. A bill for the relief of Tchisou Tho; to the Committee on 
the Judiciary.
  Mr. COLEMAN. Mr. President, I ask unanimous consent that the bill for 
the relief of Tchisou Tho be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1042

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. PERMANENT RESIDENT STATUS FOR TCHISOU THO.

       (a) In General.--Notwithstanding subsections (a) and (b) of 
     section 201 of the Immigration and Nationality Act, Tchisou 
     Tho shall be eligible for the issuance of an immigrant visa 
     or for adjustment of status to that of an alien lawfully 
     admitted for permanent residence upon filing an application 
     for issuance of an immigrant visa under section 204 of that 
     Act or for adjustment of status to lawful permanent resident.
       (b) Adjustment of Status.--If Tchisou Tho enters the United 
     States before the filing deadline specified in subsection 
     (c), Tchisou Tho shall be considered to have entered and 
     remained lawfully and shall be eligible for adjustment of 
     status under section 245 of the Immigration and Nationality 
     Act as of the date of enactment of this Act.
       (c) Deadline for Application and Payment of Fees.--
     Subsections (a) and (b) shall apply only if the application 
     for issuance of an immigrant visa or the application for 
     adjustment of status are filed with appropriate fees within 2 
     years after the date of enactment of this Act.
       (d) Reduction of Immigrant Visa Numbers.--Upon the granting 
     of an immigrant visa or permanent residence to Tchisou Tho, 
     the Secretary of State shall instruct the proper officer to 
     reduce by 1, during the current or next following fiscal 
     year, the total number of immigrant visas that are made 
     available to natives of the country of the aliens' birth 
     under section 203(a) of the Immigration and Nationality Act 
     or, if applicable, the total number of immigrant visas that 
     are made available to natives of the country of the aliens' 
     birth under section 202(e) of that Act.

                          ____________________