May 15,2001

Grassley on Committee Passage of the Tax Relief Act

Tonight the Committee on Finance approved 14 to 6 the chairman’s mark of the TaxRELIEF – Restoring Earnings to Lift Individuals and Empower Families -- Act. Sen. ChuckGrassley, chairman of the Committee on Finance, made the following comment on today’scommittee action.

“Substantial tax relief is on the way. This mark is a victory for bipartisanship in the Senate,for the President’s leadership and most of all, for taxpayers. I was pleased with the mark-up. It gave20 senators a chance to make the case for their priorities. They went on record with strongly heldviews. The process was open. Taxpayers can see what we did and whether they agree with it. Ithink they’ll feel it passes the common-sense test. It makes sense to me to give taxpayers a refundwhen they’ve created a surplus.”