[Congressional Record (Bound Edition), Volume 148 (2002), Part 9]
[Extensions of Remarks]
[Pages 12066-12067]
[From the U.S. Government Publishing Office, www.gpo.gov]




              UPON THE OCCASION OF COST OF GOVERNMENT DAY

                                 ______
                                 

                          HON. ADAM H. PUTNAM

                               of florida

                    in the house of representatives

                        Thursday, June 27, 2002

  Mr. PUTNAM. Mr. Speaker, this year Cost of Government Day falls on 
June 29. This

[[Page 12067]]

date represents the day on which the average American worker has earned 
enough gross income to pay off his or her share of the tax and 
regulatory burdens imposed by all levels of government--federal, state 
and local.
  The largest component of the Cost of Government is federal taxes, 
which account for 44 percent of your total cost of government. Federal 
regulation, state and local taxes each account for another 21 percent, 
with state and local regulation accounting for 13 percent.
  Cost of Government Day is 2 days earlier than it was last year and 
lower than it has been in 5 years, since 1997. This is primarily due to 
the two tax cuts passed by Congress and championed by President George 
W. Bush. The Economic Growth and Tax Reform Reconciliation Act of 2001 
(EGTRRA), enacted in May 2001, and the Job Creation and Worker 
Assistance Act of 2002, enacted in March 2002 have moved Cost of 
Government Day in the right direction.
  This decline is all the more remarkable because the United States is 
involved in a major military conflict, the war on terrorism, and is 
emerging from an economic slump. The economic downturn, which was 
almost certainly exacerbated by the September 11 terrorist attacks on 
New York and Washington, could have had a more negative effect on our 
recovery. Through the swift action of Congress and President Bush, 
appropriate policies to encourage economic growth, including reducing 
interest rates and taxes were implemented. Through the partnership of 
President Bush and Congress, America's workers, entrepreneurs and 
investors were given the means to put our economy on the road to 
recovery.
  The Cost of Government is still substantially higher than during the 
1980s, when President Reagan led the nation in bringing Cost of 
Government Day down to mid-June--returning to that level should be our 
goal.
  A lower Cost of Government means more of the money produced by 
workers, investors and entrepreneurs is left in the hands of those who 
earned it; the taxpayer. A lower cost of government expands economic 
freedom for all Americans. A lower cost of government increases 
personal choice and control. A lower cost of government allows those 
participating in the economy to choose what to consume, how much to 
save or invest. Ultimately, a lower cost of government allows every 
American to improve their quality of life and to spend more of their 
hard earned money on the things most important to themselves and their 
family.

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