New Tax Cuts

Floor Speech

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Mr. GROTHMAN. Mr. Speaker, I feel I must address one of the key issues that we are going to be dealing with in the next 2 days, and that is: What type of new tax cuts are we going to put into the Internal Revenue Code?

Some people think that if I had my choice, I would bring back the personal exemption and put $1,000, or $2,000, or $3,000 per child on that return because there is no time in life in which you need money more than when you are just starting out with children and have a big mortgage. We should look out for the average guy at a time when they are most desperate.

Some people would say my second pick would be to reduce the marginal tax rate on the most technical manufactured goods because we want those goods to be made here in America, and it would be great to have those manufactured in America.

Some people, however, think the most important thing is to encourage States to increase their taxes and have higher property taxes from the local units of government and higher income taxes for the State government. They want to increase the exemption for those to encourage State governments and local governments to spend more money.

No, we should be helping out the young people with children just starting out.

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