Bill Clinton

“ We should have tax cuts this year, but they should be the right ones, targeted to working families to help our economy grow—not tax breaks that will help only a few while putting our prosperity at risk. I have proposed a program of targeted tax cuts that will give a middle-class American family substantially more benefits than the Republican plan at less than half the cost. Including our carefully targeted marriage penalty relief, two-thirds of the relief will go to the middle 60 percent of American families. ”

“ Taking into account H.R. 4810, the fiscally irresponsible tax cuts passed by the House Ways and Means Committee this year provide about as much benefit to the top 1 percent of Americans as to the bottom 80 percent combined. Families in the top 1 percent get an average tax break of over $16,000, while a middle-class family gets only $220 on average. But if interest rates went up because of the congressional majority's plan by even one-third of one percent, then mortgage payments for a family with a $100,000 mortgage would go up by $270, leaving them worse off than if they had no tax cut at all. ”

“ Our tax cuts will also help to send our children to college, with a tax deduction or 28 percent tax credit for up to $10,000 in college tuition a year; help to care for family members who need long-term care, through a $3,000 long-term care tax credit; help to pay for child care and to ease the burden on working families with three or more children ”