    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book II)]
    [July 31, 1997]
    [Page 1031]
    [From the U.S. Government Publishing Office www.gpo.gov]

    [[Page 1031]]

    Statement on Congressional Action on Tax Cut Legislation
    July 31, 1997

        Congressional passage of tax cut legislation brings us one step
    closer to final enactment of landmark legislation that will balance the
    budget, provide meaningful tax relief to middle class families, and
    strengthen the Nation's economy.
        This tax cut honors our values by helping middle class families
    raise their children, send them to college, save for retirement, and buy
    and sell a home. I am particularly pleased that it includes $35 billion
    to give every American who needs it a HOPE scholarship tax cut for the
    first 2 years of college, to provide further tax relief for all 4 years
    of college, and to help to pay for education and training throughout a
    lifetime. The first balanced budget in a generation is also the best
    education budget in a generation.
        By giving working families direct tax relief, we are continuing our
    economic strategy of balancing the budget while investing in people.
    That strategy has helped create prosperity, with steady growth, low
    inflation, strong investment, and rising middle class incomes. Now, this
    tax cut will boost the standard of living for middle class families even
    more. Working families deserve the dividend from a growing economy and a
    balanced budget, and with this tax cut, they will receive it.