So why can't we come together, without recrimination or placing blame, and agree on a simple basic proposition. Whatever the merits or demerits of la… - Ted Kennedy

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So why can't we come together, without recrimination or placing blame, and agree on a simple basic proposition. Whatever the merits or demerits of last year's tax bill, it was enacted in what now seems a very different and distant time. Today, for the sake of our country, we must transcend the old boundaries of debate. We must think anew, and act responsibly. We can and should postpone a portion of the future tax cuts that overwhelmingly benefit the wealthiest taxpayers. Those tax cuts are not scheduled to be made until 2004 and later. We should put them on hold until we are certain that we can afford a prescription drug benefit for senior citizens, make the needed investments in education and health care, protect Social Security and fully provide for the common defense. My proposal would put on hold approximately 350 billion dollars in future tax breaks for the wealthiest Americans during the next ten years. Over one trillion dollars of tax cuts will still take effect as scheduled. Families earning less than 130,000 dollars a year and filing joint returns would not be affected. No taxpayers would pay a higher tax rate than they pay now. In fact, income tax rates for everyone will still be lower in 2002 and in succeeding years than they were in 2001. The child tax credit would be increased as planned, and marriage penalty relief would be provided as scheduled.