[Congressional Record (Bound Edition), Volume 152 (2006), Part 14]
[Extensions of Remarks]
[Page 19103]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 TREASURY DEPARTMENT REPORTS MILESTONE

                                 ______
                                 

                      HON. MICHAEL G. FITZPATRICK

                            of pennsylvania

                    in the house of representatives

                      Thursday, September 21, 2006

  Mr. FITZPATRICK of Pennsylvania. Mr. Speaker in an amazing 
demonstration of the strength of the American economy, the Treasury 
Department reported the largest single gross receipt of quarterly 
corporate taxes in our Nation's history last Friday. Without question, 
this milestone demonstrates the effectiveness of the pro-growth tax and 
fiscal policies advanced by this Congress. This news also proves that 
despite our obligations to protect our national security, fight the War 
on Terror abroad and cover the increasing costs of entitlement programs 
at home, the American economy will continue to grow and benefit the 
American people.
  These historic tax receipts are not an isolated event. Last Friday's 
announcement is the result of back-to-back quarters of economic growth 
throughout America. According to the Treasury Department, last year's 
tax receipts were also a record high, having grown $275 billion, or 
14.6 percent, from the previous year.
  Let's not forget about jobs. Increased corporate tax receipts are the 
result of greater corporate activity, which leads to job creation. Our 
economy has now added jobs for 36 straight months. The policies this 
Congress has set in motion have created the framework for an economy 
that has created more than 1.7 million jobs over the past 12 months and 
more than 5.7 million jobs since August 2003.
  I and my colleagues are dedicated to continuing this trend by 
promoting legislation to roll back red tape, lower taxes on America's 
families and set the stage for a brighter future for all Americans.

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