The votes we take today will not be soon forgotten by the American voters. Both votes on the rule and on final passage will lead to more taxes, higher inflation, and slower economic growth.
…your economic program is a job killer. Your tax increases on the energy in this country will affect people from the automobile to the schoolhouse to the grocery shelves.
About the only positive environmental impact this tax package will produce is that in destroying 400,000 American jobs, there will be fewer commuters driving their cars to work each day! Between the Clean Air Act and this proposed tax, this country will lose almost 20 percent of its refinery capacity by the end of the decade. In addition to the refinery problem, the tax is punitive to clean fuels, providing little incentives for industries to switch to more environmentally sound fuels like natural gas.”
The problem with our economy is that there is too little employment and too little growth. This plan will do nothing to improve that condition and will actually make it worse.
Like this two-sided coin, the Clinton budget bill has two sides. One side is a tax increase-the largest tax increase in the world, and most Americans know that. But the other side of this coin-of the Clinton budget plan is something else, and it's not spending cuts; it's spending increases: $165 billion in new domestic spending, adding $1.2 trillion to the deficit, growing Government by 20 percent over the next 4 years, all charged to our children and grandchildren. Mr. Speaker, with most coins it is: Heads, you win; tails, you lose; but with the Clinton budget bill it is: Tax increases, the American people lose; spending increases, the American people lose. There is something new about this coin, but there is absolutely nothing new about the Clinton proposal. It is tax and spend: Heads, you lose; tails, you lose.
These new taxes will stifle economic growth, destroy jobs, reduce revenues, and increase the deficit. Economists across the ideological spectrum are convinced that the Clinton tax increases will lead to widespread job loss.
Mr. Chairman, the President's budget plan which is incorporated into this budget resolution imposes higher taxes and more deficit spending. We have been told that that kind of a budget package will have an impact on the economy. Certainly I agree. However, it will be the kind of impact that this country can't absorb. It will slow economic growth, contribute to the massive Federal deficit, and increase Government spending.
But, I will tell you, this program will not give you deficit reduction. It will be a disaster for the performance of the economy because of the repressive impact of these taxes and, of course, the possible inflationary impact of the taxes, along with the labor-cost-increasing mandates that are already a part of the president's agenda.
America’s business owners are a resilient bunch, but let there by no doubt, HR 1 will be the demise of some. And as that occurs, the light of freedom will grow dimmer.
There is nothing profamily about putting people out of work--but that is exactly what this bill does. Estimates are that tens of thousands of working men and women will be put out of work if this bill passes….there is nothing democratic about Congress playing Big Brother and mandating one set of benefits over another.
