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PRESS RELEASE FROM AMERICANS FOR TAX REFORM
Contact: John Kartch (
jkartch@atr.org or 202-785-0266)
Click
here for Adobe Acrobat version.
2/8/01
Bush Sends Tax Cut Package to Congress
Plan reduces income tax rates, eases marriage penalty, death tax
WASHINGTON- President Bush sent Congress
his 10-year, $1.6 trillion tax cut proposal today. In remarks
at the Rose Garden, Bush declared that this tax cut package could be
the best medicine to help lift a sagging economy: "A warning
light is flashing on the dashboard of our economy and we just can’t
drive on and hope for the best," Bush said.
Grover Norquist, president of Americans
for Tax Reform, issued the following statement praising the President
for having the courage to follow through on his campaign promise:
"Taxpayers should rejoice throughout
America today as tax relief is close at hand. President Bush has
kept his word to the American people. He promised us a tax cut
and he is working diligently to deliver on his promise.
"President Bush’s plan is
very similar to the plan he built his campaign around: it will reduce
income taxes for all Americans, ease the marriage penalty, phase out
the death tax, and boost tax breaks for charitable contributions.
"According to the Congressional
Budget Office, the budget surpluses could reach $5.6 trillion over the
next decade. The President has proposed using $2.5 trillion of
the surplus for Social Security and debt reduction, leaving approximately
$3.1 trillion in surplus. Of that, the President wants to give
back about half, or $1.6 trillion, to taxpayers. They created
the surplus, they should get some of it back.
"The impact of the tax cut will
be far more significant to lower income families than those in higher
income brackets. For example, a family of four with income of
$40,000 will get a tax cut of $1,600. That $1,600 will have a
far greater impact on that family’s budget than the tax cut someone
earning $100,000 will receive. That is $1,600 that family can
use to purchase clothing, food, and other necessities for their children."
"This tax cut is good for America
and we hope Congress will pass it sooner rather than later."
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Americans for Tax Reform is a non-partisan
coalition of taxpayers and taxpayer groups who oppose any and all federal
and state tax increases. For
more information, or to arrange an interview with Mr. Norquist please contact John Kartch at (202)785-0266 or by email at
jkartch@atr.org.
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