Wednesday, April 21, 1999
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Wednesday, April 21, 1999 |
U.S. Rep. Mac Collins, R-Hampton, voted in favor of an historic budget agreement last week that he said will save Social Security, hold the line on federal spending and reduce taxes. According to Collins, the Budget Resolution Conference Report (H.Con.Res. 68), the blueprint for federal spending for fiscal year 2000: Designates taxes flowing into the Social Security Trust Fund, as well as the interest earned on those funds, for the preservation of retirement security programs. Increases Medicare spending authority by $13.5 billion over FY1999. Pays down some $125 billion of public debt in FY 2000. Maintains the spending caps adopted as part of the Balanced Budget Agreement of 1997. Calls for $800 billion in tax simplification over the next decade. Increases defense spending authority in FY 2000. Increases primary, secondary and vocational education by $2.3 billion in FY 2000. Collins, a member of the House Budget Committee, said, "This budget resolution shows that congressional leaders are serious about the future of this country. We are devoted to securing the retirement system, strengthening our national defense, improving schools for America's children and reducing the tax burden on working Americans."
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