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Rep. Robinson of Winchester said the Kemp-Roth concept would have reduced short-term revenue but the losses "would have been recouped in large measure by healthy, job-generating economic growth flowing from provisions of the bill.”
Instead of the Kemp-Roth plan of lowering income tax rates an average of 33 per cent during the next three years, the House approved a less steep $16.3 billion tax cut for taxpayers and business last August.
Robinson voted for the bill that passed the House last August, calling it “a step in the right direction."
Unfortunately, said Robinson, the $16.3 billion tax cut does nothing "to modify the heavy, impending impact of further increases in the social security tax un
87.6%