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| Wilson Praises the President’s Commitment to Education and Tax Relief for New Mexico Families |
February 27, 2001 |
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Average family of four in New Mexico would pay $0 in fed income taxes under Bush plan
Washington, DC—Congresswoman Heather Wilson praised President George W. Bush’s strong commitment to strengthening public education and providing New Mexico families with tax relief to keep the economy growing.
“I was very pleased to hear the President stress improving public schools,” said Wilson. “I look forward to working with the President to get money out of the Washington bureaucracy and back to the classroom, strengthening reading programs, improving teacher training and making math and science a priority.
“I was also pleased to hear the President continue to promote tax relief that will keep the economy grwoing,” said Wilson.
“According to a new study released by the Heritage Institute if President Bush’s tax plan is enacted the average New Mexican family of four would receive a tax cut of more than $1,000 and no longer pay any federal income taxes.* That is real relief for thousands of working families across New Mexico.”
Some of the highlights outlined by President Bush in his speech tonight included:
* Providing the Education Department the largest percentage spending increase of any federal department (11.5% or $4.6 billion) and triples funding for children’s reading programs.
* Preserve and protect Social Security by locking away the $2.6 trillion Social Security surplus for Social Security.
* Spend Medicare receipts over the next 10 years for Medicare, and Medicare only. The President’s budget provides a $21 billion increase in Medicare spending over the next year. The budget also provides $153 billion over 10 years in new spending to modernize Medicare with and add prescription drug benefit.
* Strengthen our military by improving the quality of life of our troops and their families and beginning the transition to a 21st century force.
* Double funding for National Institutes of Health(NIH) medical research on important health issues like cancer and create more than 1,200 new community health centers to make health care more accessible.
* Protect our environment by providing the largest increase for conservation funds in history and fully funding Land and Water Conservation Fund – a $900 million commitment.
President Bush is scheduled to release a one-hundred page blueprint of the Administration’s budget on Wednesday after reporting to Congress Tuesday night. t will be followed up by a detailed budget document in April.
According to the Heritage Institute study, joint filers with two dependents earning the median household income for New Mexico ($32,570) currently pay $1,071 in federal income taxes and under the Bush tax cut proposal they would pay $0 in federal income taxes. To review the Heritage Institute study see their web site at http://www.heritage.org/shorts/taxbriefingroom/20010226taxplan.html .
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