[Congressional Record (Bound Edition), Volume 145 (1999), Part 15]
[House]
[Page 21046]
[From the U.S. Government Publishing Office, www.gpo.gov]



      THE REPUBLICAN PLAN IS FOR ALL AMERICANS, NOT JUST THE RICH

  (Mr. CHABOT asked and was given permission to address the House for 1 
minute.)
  Mr. CHABOT. Madam Speaker, Congressional Budget Office projects 
approximately $3 trillion in budget surpluses over the next 10 years. 
The Republican plan would take $2 trillion of that money and put it in 
the Social Security and Medicare lockbox. That means that $2 trillion 
goes towards retirement security for those two important programs. It 
also reduces the debt by $2 trillion. The remaining $1 trillion would 
be returned to the taxpayers, all taxpayers.
  Now my liberal friends in the House here keep saying it is tax cuts 
for the rich, tax cuts for the rich. It is just not true. It is for all 
Americans.
  The details? For example: The marriage penalty.
  Right now, a married couple in this country pays higher taxes than a 
couple who is living together and not married. That is just not right. 
So it phases out the marriage penalty.
  It also eliminates over time the death tax or the inheritance tax. 
Right now the Federal Government can take up to 55 percent of what a 
person has earned during the course of their life when they die. It 
means the family farm gets sold, small businesses get sold, people lose 
their jobs.
  So let us save those important programs and cut taxes.

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