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Pastimes : MOLEGATE! -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (804)	10/9/2000 8:58:42 AM
From: Vendit™	Respond to of 1719

Hillary Wants Cap on Tax Cuts If New Yorkers elect Hillary Clinton to the U.S. Senate, she promises to propose legislation that could limit tax cuts for all Americans. She is proposing mandatory "debt-reduction caps" that would make it difficult for Congress to use the so-called budget surplus for cutting taxes or paying for new programs. Her Republican opponent, Rick Lazio, thinks it's a bad idea, and a senator agrees. Under Hillary's plan, 20 percent of each year's budget "surplus" (apart from Social Security and Medicare) would go toward reducing the federal debt. If Congress wanted to spend that money reserved for paying down the debt, or use it for tax cuts, the House and Senate would have to muster a three-fifths vote. Said Hillary during a campaign stop in New York City: "We have to put first things first and be conservative in how we use this surplus and project our expenditures. I would propose that we set some limits on what we can do with the surplus." Hillary's plan goes beyond the debt-reduction ambitions of Vice President Al Gore. His plan does not require a three-fifths vote for breaking the limit on spending and tax cuts. Her Republican opponent, Rep. Lazio, said Hillary's policy proposals wipe out most of the "surplus" she says she'll apply to debt reduction. Lazio told reporters in Newburgh, N.Y.: "So, it's fine rhetoric, but when you add up the numbers, it doesn't add up. My economic plan would reserve three-quarters of the surplus to protect Social Security and Medicare, pay down the debt and also invest in some important priorities, like education." Sen. Kay Bailey Hutchison, R-Texas, a member of the Senate Appropriations Committee, said Thursday that Hillary's plan was yet another example of the Clinton-Gore government philosophy. "I think that it's just one more extension of the Clinton-Gore philosophy that government can make the decisions for people to spend their own money better than the people who earn the money can spend it. Gov. Bush would veto a bill like that in a New York minute," Hutchison said at a Washington news conference. "Limiting the ability for Congress to give tax relief to hard-working American families is against everything that Republicans in Congress have stood for and everything that Gov. Bush running his campaign is based on," Hutchison added. newsmax.com