Wednesday, May 16, 2001
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Wednesday, May 16, 2001 |
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Collins hails passage of conference budget report
Arguing that the American taxpayer deserves tax relief, Rep. Mac Collins took to the floor of the House of Representatives last week to urge his colleagues to pass the Conference Report on the budget. Collins' 3rd District includes Fayette County. The budget passed 221-207. "Mr. Speaker, the people of the state of Georgia strongly believe that the federal budget policy should be based on the guidelines of limited government, lower taxes and increased local control of local affairs," Collins said. "The budget resolution before us today closely follows those guidelines. "First this budget plan establishes a limit on the growth of federal spending that closely follows the rate of inflation. Second, we provide real reductions in taxes for wage earners. Third, the budget resolution makes room for future consideration of reform bills, such as education reform, that will focus on returning more control to the local level," he continued. Collins said the tax reduction will strengthen the economy by returning money to consumers who are the true engine of a healthy economy. "The federal government doesn't manufacture; it doesn't have a product for sale," Collins told his colleagues. "It is not and should never try to be the engine that runs economic growth. "The economy is made of people workers, taxpayers. They are the ones earning the wages, and spending or investing portions of their paycheck. Each time they do, they create economic activity. The more they spend or invest, the more economic growth we have. "Over the next 10 years the government will collect from wage earners $3.1 trillion more in non-Social Security taxes than it needs to fund operations," Collins said. "The budget resolution takes a responsible look at the federal books and recognizes the fact that it's time to slow down the collection of the government cash flow and return those excess funds to the cash flow of individuals and families. In the words of the president, the taxpayers have overpaid their bill, and this budget resolution will provide a refund on their collected earnings that they deserve. "A balanced budget provides us with a road map for government spending, which is absolutely important if you want to provide tax relief," Collins said after the legislation passed. "The cause of over-taxation is overspending, and a balanced budget is key if you are serious about controlling spending." Collins said the budget contains important measures which include $2.4 trillion in public debt reduction by 2011; tax relief for every taxpayer a total of $1.35 trillion; improved education more resources for education reform, accountability, reading, teacher training and more; increased spending for national defense, including the president's $5.7 billion initiative for increased pay, housing and retiree health care; Medicare reform and prescription drug benefit up to $300 billion; locking away the $2.5 trillion positive cash flow from payroll taxes for Social Security.
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