Word: tax-cutting
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...SWEAT George W. Bush sprinted through his first legislative test last week when the core of his $1.6 trillion tax-cut plan easily passed in the House. He faces a much ?bigger hurdle, however, when the bill goes to the evenly split Senate. Illustration for TIME by C.F.Payne...
...billion of Bush's $1 trillion comes from the Medicare trust fund and should be off limits. Extra tax-cut costs, like making the plan retroactive, could hike its price past $2 trillion. Bush is vague on the cost of his big-ticket priorities. He has allotted $600 billion for private Social Security investment accounts, but Dems say the price could reach higher. And Pentagon officials suggest that Bush's plans to upgrade and modernize the military could cost roughly $600 billion. Missile defense? Another $50 billion to-$100 billion more. Yikes! You do the math. Did Dubya...
...Even as the House prepared Thursday to bestow a party-line passage on George W. Bush's $900-odd billion marginal rate reductions, a major pocket of bipartisan opposition to the President's overall tax-cut plan reared its head in the Senate. A centrist clutch of five Republicans and six Democrats banded together Wednesday and demanded a trigger - a legislative clause that would halt tax cuts if the government ran out of surpluses - as the first condition of their support...
...bytes from the evening news and feel like political sophisticates. Sen. Tom Daschle (D-SD) and his pals know this trick well. No sooner did President George W. Bush conclude his fine speech last Tuesday than the Democrats tossed us a meaty slogan from their political banquet: The Bush tax-cut plan is unfairly biased towards the wealthy. Sound familiar? It should; we have been sucking the marrow out of it for nearly a week...
...pause to reflect, we might end up choking. There seems to be a tacit agreement between both parties that if the Bush plan really does target benefits to the rich, it must be rejected. Republican responses instead focus on denying the Democrats' slogan and telling us how good their tax-cut will be for middle-class families. Bush himself anticipated the Democrats' slogan and used last week's speech to shrewdly showcase the middle-class family of Steven and Josefina Ramos. And Bush is, of course, correct: His plan gives a well-deserved break to families like the Ramos...