Last Thursday, the U.S. House of Representatives took a major step for hard working Americans by passing The Financial Freedom Act of 1999, which provides tax relief to every single taxpayer. Most importantly, this tax relief package fits within our balanced budget, which protects Social Security and Medicare, and pays down the public debt.
Taxes are too high.
Americans are all working harder and longer than ever before just to pay the taxman. The average American family worked until May 10 this year just to pay their tax bill, before saving a cent for retirement or college. Americans should keep more of their hard-earned money to spend on their families or save for the future. Here's a look at some of the provisions of the House-passed tax cut plan. The Financial Freedom Act provides a 10 percent federal tax cut phased-in over 10 years for all Americans and dependent upon continued federal budget surpluses.