Word: tax-cutting
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...White House hopes the latest bad economic news--a surge in jobless claims and more indications of businesses cutting back--will give a boost to Bush's $726 billion tax-cut proposal, which the Senate voted to slice in half two weeks ago. Asked if the President still hoped to get his tax cut passed in full, a senior Administration official replied confidently, "Fifty miles to Baghdad." Translation: After the war, the chances could improve. In private, though, Administration officials say they will take the largest number they can get and declare victory. As a Bush aide points out with...
TIME: We have a looming budget deficit and a war that will cost a lot of money. Is the timing of Bush's tax-cut proposals right...
When George W. Bush sat down with his speechwriters two weeks ago, he knew he had a problem on the home front: his $695 billion tax-cut plan had met with skepticism from key Republican lawmakers, hostility from most Democrats and ambivalence from the public. He wanted to give a speech, he said, that would "walk people through" his plan. "We'd explained it to the Chicago economics club," says one Bush aide. "Now he wanted to explain it to regular people...
Mankiw succeeds Hubbard, who helped craft the $695 billion tax-cut plan that the president proposed last month—and who steps down as Bush’s administration attempts to convince Congress to approve the stimulus package...
...third--36%--think the Bush plan would make the economy worse. Bush is also facing a rough road in Congress, even among Republican friends. Key G.O.P. Senators like Finance Committee chairman Charles Grassley of Iowa and Olympia Snowe of Maine have suggested that the crown jewel of Bush's tax-cut proposal--the $300 billion elimination of dividend taxes--is either too large or too slow acting to goose the economy. "It's one of the weaker links in the President's proposal, in regard to what's politically possible," says Grassley. Another element of the Bush plan--his proposal...