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Debates On Tax Cuts The debates on tax cuts taking place in Congress are making the daily headlines of every radio station newspaper and television station in America The issue at hand is what to do with the projected budget surplus estimated to total 29 trillion over the next decade Republicans and Democrats of the House and Senate have come up with several tax cut proposals ranging from less than 300 billion to almost 800 billion worth of tax cuts Opposing views from both party members in the House and the Senate are wrecking havoc over a budget surplus that may not be a reality and only a projection for the next ten years President Clinton unveiled his plan to use the estimated budget surplus to secure Social Security and Medicare first and far most eliminate the national debt while still having enough left over to compromise a deal with the Republican led Congress and their demand for tax cuts A writer for The New York Times wrote the president was willing to work with Republican leaders to use the 29 trillion federal budget surplus over the next ten years but was only willing to devote approximately 250 billion to tax cuts He was quoted by The New York Times The surplus is the hard-earned product of our fiscal discipline We should use it to prepare for the great challenges facing our country caring for our parents caring for our children freeing our nation from the shackles of debt so that we can have long-term sustained economic prosperity Stevenson 1999 A1 A14 President Clinton proposed a 250 billion tax cut to begin the negotiations before The Congressional Budget Office unveiled their own plan The Democrats were the first to submit an alternative proposal of 290 billion to the Senate It targeted tax breaks for retirement savings college tuition health care married couples and buyers of
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