[Congressional Record Volume 154, Number 122 (Thursday, July 24, 2008)]
[House]
[Page H7063]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     MIDDLE CLASS TAX FAIRNESS ACT

  (Mr. WALZ of Minnesota asked and was given permission to address the 
House for 1 minute.)
  Mr. WALZ of Minnesota. Madam Speaker, the gentleman on our side of 
the aisle who just spoke from Illinois laid out the exact situation 
that's happening in our economy. That's why today I'm proud to 
introduce the Middle Class Tax Fairness Act, which will allow the 
average taxpayer to keep more of their hard-earned dollars.
  In this slow economy, it's unfair to put the load of taxation right 
on the backs of the middle class. Middle class Americans are being 
squeezed by high gas prices, high cost of groceries, high health care 
costs, high tuition costs, and their paychecks, as you heard, are not 
keeping up with the rising costs. And in fact, the speaker was right; 
they're actually $1,000 less than they were 5 years ago.
  Meanwhile, our tax code is full of government waste and unnecessary 
giveaways to the richest 1 percent.
  Today, I am introducing legislation that will restore balance to our 
tax code and do something unusual: help reduce the national debt. My 
bill will be a jump-start to this slumping economy. It will double the 
standard deduction for the next 2 years, providing an annual savings of 
$750 to 61 million Americans. It will expand access to the child tax 
credit and provide relief on property tax.
  My legislation allows the middle class to keep their income and does 
so in a fiscally responsible manner, by fully being paid for.
  Madam Speaker, it is easy to offer a tax cut. It's harder to pay for 
it. Join me.

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