Public Papers - 1992 - February
Statement on House of Representatives Action on Tax Legislation
Democrats in the House of Representatives today took a turn down a familiar path; they voted to raise taxes. They voted against creating jobs and stimulating the economy. Instead of voting to provide greater opportunities for all Americans, they voted to saddle the economy with a 0 billion tax increase.
In my State of the Union Address I asked Congress to put politics aside and pass my economic growth plan by March 20th. It's a plan that will create jobs and put Americans back to work immediately.
Economists, Democrats and Republicans alike, agree that the Democrat package that passed today does not create jobs or stimulate the economy. The Democrat package gives typical Americans only about 25 cents a day for 2 years. But it increases taxes permanently. I believe a Congress that has consistently shown it spends too much of hardworking Americans' tax dollars should not be allowed to tax and spend any more.
I will not accept the Democrat tax increases. The American people would want me to veto this latest Democratic tax increase. And let there be no question, I will.