The Tax Refund Act of 1999. I voted for it. There are compelling arguments for cutting taxes right now.
Tax rates are at an all-time peacetime high.
When President Clinton took office, federal taxes consumed 17.8 cents out of every dollar earned in the United States. Now the federal government's take is 20.6 cents out of every dollar. It was a good bill. Nonetheless, the bill was by no means perfect. I prefer the provisions in the House passed bill which provide an across the board tax reduction, eliminate the death tax altogether, and cut capital gains.