[Congressional Record Volume 153, Number 84 (Tuesday, May 22, 2007)]
[House]
[Pages H5536-H5537]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    TAX REDUCTIONS BENEFIT FAMILIES

  (Mr. WILSON of South Carolina asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. WILSON of South Carolina. Mr. Speaker, yesterday's The Hill 
features an advertisement by Merrill Lynch that praised the 2003 tax 
cuts, proclaiming, ``Lower capital gains and dividend tax rates have 
produced major economic gains.''
  I was present 4 years ago this week when President Bush signed the 
tax reduction legislation. The results are some of the most successful 
ever. The economy has expanded $1.6 trillion; 7.8 million new jobs have 
been created; unemployment rates are near historic lows. The stock 
market is at a record high, soaring 40 percent. Tax revenues are the 
highest ever because of private sector growth. Twenty-four million

[[Page H5537]]

families have received an average tax cut of $950. The lower rate on 
savings and investments has helped our economy grow to benefit American 
families.
  In conclusion, God bless our troops, and we will never forget 
September 11.

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