A lack of revenue is not the problem. The deficit does not exist because the people are taxed too little. but rather because Government spends too much. Let us take a look at just what Is in this bill besides tax increases: $7.29 billion in additional spending for food stamps. establishment of a new $300 million annual entitlement program for emergency Immigrant health services. COLAs. albeit reduced COLAs. for Members of Congress between 1995 and 1997. and $28.3 billion for expanded earned income tax credits. There Is more than a bit of irony in significant amounts of new spending In a deficit reduction bill.
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