Taxpayers in good shape as CSX Corporation Chairman John Snow is poised to become new Secretary of the United States Treasury.
WASHINGTON – Taxpayers and taxpayer activists alike today applauded President Bush\’s decision to appoint CSX Corp. Chairman John W. Snow as the new Treasury Secretary. If approved by the U.S. Senate, Snow will replace outgoing Secretary Paul O\’Neill.
Snow brings vast experience as both a business leader, economist and government official. As chairman, president and chief executive of CSX Corporation, a freight and transportation conglomerate based in Richmond, Virginia, and as a Transportation Department official in the Ford Administration, and with a doctorate in economics from the University of Virginia, Snow has a wealth of experience from both the public and private sectors – essential for a Treasury Secretary, who more than anyone in the federal government is responsible 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 Americans for Tax Reform (ATR) in Washington, DC. "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."
Importantly, after appointment by former U.S. House Speaker Newt Gingrich (R-Ga.) and Senate Majority Leader Bob Dole (R-Kansas), Snow worked on a GOP tax panel aimed at developing a simpler tax system. The panel, headed by former vice presidential candidate Jack Kemp, supported a move toward a simplified, 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.