Baucus Comments on Chairman's Mark, "Job and Growth Tax Act of 2003"
"I cannot support the economic proposal that was presented today by Chairman Grassley.The purpose of an economic stimulus plan is to stimulate and rebuild our economy. Cutting taxeson dividends -- a main component of the Chairman's proposal -- will not effectively rebuild oureconomy since more than 70% of Americans do not receive dividends and will see no tax reliefunder this proposal. In addition, the Chairman's proposal will not send a penny in direct aid to ourcash strapped states. I am also concerned by the current of the Chairman's proposal. Thecurrent proposal -- as now written -- costs more than $350 billion and violates the agreement wecame to on the Senate floor to limit the of the package.
Rebuilding America's economy and creating more good paying jobs is my number one goalfor the country. I am committed to working together with all members of the Finance Committee toreach agreement on a proposal that will not go above $350 billion and will provide tax relief tothose who need it -- our working families and small businesses. These folks are the backbone ofour economy and deserve tax relief now, through immediate state aid and small business tax reliefand investment incentives. We must also address the needs of our unemployed workers who arehaving a difficult time finding work in the current economy. Their benefits are due to expire onMay 31, 2003 and it's important to provide them with an extension in our economic stimuluspackage.
I remain dedicated to working together with Chairman Grassley and the rest of the FinanceCommittee to pass an economic stimulus package that will help all Americans. Rebuilding theeconomy is more important than party lines or political differences. I'm hopeful we can come to anagreement in the end on a strong, responsible and effective bill that sends relief to the people whoneed it."###
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