GOP Senators Oppose Size of Bush Tax Cut

WASHINGTON -- President Bush's proposal to spur the economy by cutting taxes $726 billion over the next decade was dealt a potentially serious setback Thursday when two Republican senators said they would support no cut larger than $350 billion, The New York Times reported.

The Republicans, Olympia J. Snowe of Maine and George V. Voinovich of Ohio, joined two Democrats, Max Baucus of Montana and John B. Breaux of Louisiana, to send a letter to their parties' Senate leaders stating that they were committed to vote against any tax cut beyond $350 billion unless it was offset by tax increases elsewhere or specific spending decreases.

If the Republicans stick to the pledge, the Bush proposal probably cannot win Senate passage because the GOP have such a slim majority in the body, The Times reported.

The two took the stand, they said in the letter, because of "international uncertainties and debt and deficit projections.”

-- NYSSCPA.org News Staff

Posted on 03/14/03