[Congressional Record Volume 151, Number 94 (Wednesday, July 13, 2005)]
[House]
[Page H5747]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


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                            TAXES AND BUDGET

  (Mr. McHENRY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. McHENRY. Mr. Speaker, since President Bush took office in January 
2001, America has seen a recession that began before the administration 
was really up and running, the worst terror attacks in the history of 
the world, scandals that rocked the Fortune 500 companies and our 
financial markets, a war in Afghanistan, a war in Iraq, and the highest 
energy prices in recent memory.
  We have faced enormous economic challenges that should have 
devastated the United States; but, instead, we have seen 4 years of 
economic growth, the best housing market in American history, all more 
evidence that tax relief benefits the economy. And getting the 
government off the backs of the taxpayers actually helps our economic 
engine.
  The 2001 tax cuts and the 2003 cuts on capital gains and dividends 
have been the linchpin to our economic rebound. Federal tax receipts 
are up this year. State tax receipts are up this year. The economy is 
turning around, and we have reduced the deficit by $100 billion this 
year alone, all the work of tax relief and tight budgets, what we as 
Republicans believe, what we are fighting for, and they work.

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