Texas Senator: Hillary's Tax Plan Typical Clinton-Gore Government Philosophy
July 7, 2008 - 7:26 PM
(CNSNews.com) - If New Yorkers elect Hillary Clinton to the US 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 budget surplus for cutting taxes or paying for new programs. Her Republican opponent, Rick Lazio, thinks it's a bad idea and a Texas Republican 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, both 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 spending and tax cut limit.
Her Republican opponent, Representative Rick 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, New York, "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."
Senator Kay Bailey Hutchison (R-TX), a member of the Senate Appropriations Committee, said Thursday that Hillary's plan is 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. Governor Bush would veto a bill like that in a New York minute," Hutchison told 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 Governor Bush running his campaign is based on," Hutchison added.