[Congressional Record (Bound Edition), Volume 152 (2006), Part 8]
[House]
[Pages 10192-10193]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      TAX RELIEF HELPS OUR ECONOMY

  (Ms. FOXX asked and was given permission to address the House for 1 
minute.)
  Ms. FOXX. Mr. Speaker, a few weeks ago, the U.S. Department of 
Commerce reported that our Nation's real gross domestic product was 
revised from 4.8 percent up to 5.3 percent. That is the fastest growth 
of our GDP in 2\1/2\ years. That is not the only good news. Our economy 
has created 5.3 million jobs since May 2003. 75,000 jobs were created 
last month alone. Unemployment has dropped from 6.3 percent to 4.7 
percent, lower than the average of the 1960s,

[[Page 10193]]

1970s, 1980s, and 1990s. Personal income increased at an annual rate of 
6.7 percent in April. The Treasury Department is reporting the highest 
annual tax receipts ever. The Federal budget deficit is $38 billion 
lower today than in May 2003. Last month Republicans approved a tax 
conference agreement that will continue this economic boom, and once 
again, the Democrats fought to stop it. In fact, if Democrats had their 
way, we would all face a massive tax hike.
  Mr. Speaker, the Republicans will continue to hold the line on 
spending and extend tax relief for all Americans. We know that these 
for-growth policies work, and they will continue to foster economic 
growth.

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