Taxpayers in good hands as CSX Corp. Chairman John Snow takes helm of U.S. Economy.

WASHINGTON - Good news for Taxpayers: Today, the U.S. Senate confirmed John Snow to become the new Treasury Secretary. Snow, who serves as chairman of CSX Corporation, was nominated by President Bush last month to replace outgoing Secretary Paul O'Neill

Snow brings experience as a business leader, economist, and government official to the appointment, all of which are essential for an effective Treasury Secretary. Snow is the chairman, president and chief executive of CSX Corporation, a freight and transportation conglomerate in Richmond, Virginia. He served as a Transportation Department official in the Ford Administration, and earned a doctorate in economics from the University of Virginia. His new position makes him responsible, more than anyone in the federal government, for implementing the nation's macroeconomic policy.

"Snow's appointment is a wise choice by a President who values economic growth as the first priority," said taxpayer advocate Grover Norquist, who heads American for Tax Reform (ATR) in Washington, D.C. "John W. Snow strongly supports tax relief as a vehicle to achieve economic growth, he is an ardent supporter of free trade, he is a champion of business deregulation and the removal of burdensome red tape, and he understands the importance of reigning in government spending. In short, when dealing with the question of how to get the economy back on track President Bush has chosen someone who 'gets it' as well as anyone."

Snow formerly worked on a GOP tax panel aimed at developing a simpler tax system. The panel, headed by former vice presidential candidate Jack Kemp, was in support of a more simple, one-tier income tax system.

"Tax Relief, free trade and competitive enterprise are the engine for economic growth, and taxpayers are in good shape as the new Treasury Secretary will champion their cause," concluded Norquist.