Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: June 18, 2025
Business taxes are similarly distorted because inflation exaggerates reported profits, resulting in excessive taxes. Accordingly, I propose that future individual income taxes be reduced by $16.5 billion. This will be done by raising the low-income allowance and reducing tax rates. This continuing tax cut will primarily benefit lower- and middle-income taxpayers.
We should support Americans who tithe and contribute to charities, but don't earn enough to claim a tax deduction for it. Tonight, I propose new tax incentives to allow low- and middle-income citizens to get that deduction. We should do more to help new immigrants fully participate in the American community investing more to teach them civics and English.
I propose, for the consideration of this Congress, a 10-year campaign to build 6 million new housing units for low and middle-income families. Six million units in the next 10 years. We have built 530,000 the last 10 years. Better health for our children all of our children is essential if we are to have a better America.
Therefore we must call together the resources of industry and labor, to start building 300,000 housing units for low- and middle-income families next year that is three times more than this year. We must make it possible for thousands of families to become homeowners, not rent-payers.
To aid the middle-income families, I recommend that the Congress enact new legislation authorizing a vigorous program to help cooperatives and other nonprofit groups build housing which these families can afford. Rent control has done a great deal to prevent the housing shortage from having had worse effects during this postwar period of adjustment.
Despite this increase, there is still an acute shortage of housing for the lower and middle-income groups, especially in large metropolitan areas. We have laid the groundwork for relieving the plight of lower-income families in the Housing Act of 1949.
Our proposal would target assistance to low- and middle-income families. Just as more incentives are needed within our schools, greater competition is needed among our schools. Without standards and competition, there can be no champions, no records broken, no excellence in education or any other walk of life.
Business taxes are similarly distorted because inflation exaggerates reported profits, resulting in excessive taxes. Accordingly, I propose that future individual income taxes be reduced by $16.5 billion. This will be done by raising the low-income allowance and reducing tax rates. This continuing tax cut will primarily benefit lower- and middle-income taxpayers.
Last year, we helped parents provide child care for about two million children. My child care initiative, along with funds already secured in welfare reform, would make child care better, safer, and more affordable for another 400,000 children. For hard-pressed middle-income families, we should also expand the child care tax credit. And we should take the next big step.
But I do envision the day when we may use the private health insurance system to offer more middle-income families high quality health services at prices they can afford and shield them also from their catastrophic illnesses. Using resources now available, I propose improving the Medicare and other Federal health programs to help those who really need protection older people and the poor.
Word Of The Day
Others Looking