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Treasury Secretary Paul O'Neill made the following statement upon passage by the House of Representatives of H.R. 3, the Economic Growth and Tax Relief Act of 2001:
Today's passage of the President's tax bill moves us one step closer to allowing hardworking American families to keep more of their own money. When this bill is passed and signed into law, the average American family will have an additional $1,600 to use for education, buying a house or saving for retirement. It is time for Washington to return the tax overpayment to the people who sent it in. I'm very delighted the House of Representatives moved to reduce income tax rates. Now we are 51 votes away from making tax relief a reality.
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