[Congressional Record Volume 151, Number 95 (Thursday, July 14, 2005)]
[House]
[Page H5806]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1030
   IN FAVOR OF CONTINUED TAX CUTS AND IMPLEMENTING CAFTA FOR FURTHER 
                            ECONOMIC GROWTH

  (Mr. DREIER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. DREIER. Mr. Speaker, since Ronald Reagan was President, I have 
been listening to my very distinguished friends on the other side of 
the aisle time and time again say that, if we cut taxes, the economy 
will go into the tank and will dramatically exacerbate the Federal 
deficit.
  Yesterday morning we picked up the New York Times, and there it was: 
It showed that the tax cuts that we put into place over the past few 
years under the leadership of President Bush, in fact, have increased 
the flow of revenues to the Federal treasury. And guess who is paying 
those increased taxes, Mr. Speaker? It is the wealthy.
  We have also seen this morning evidence of zero inflation. That was 
what was reported this morning, zero inflation. We have seen the gross 
domestic product growth at 3.8 percent, and we are continuing to see 
more and more jobs created in this country.
  Mr. Speaker, there are many other things that we can do to expand 
this very positive economic growth that we are enjoying today, and it 
is first to further cut taxes so that we can expand that growth and 
also to realize that a tariff is a tax, and if we can eliminate taxes 
by implementing the Central American Free Trade Agreement, we will open 
up new markets for U.S. goods and services. Let us recognize the growth 
that we have had and expand this by opening up new markets with passage 
of CAFTA.

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