George W. Bush - Tax Reform
During the 1990s, because the federal budget deficit continued to be a problem for the Clinton Administration, many traditionally sacrosanct federal programs were put under the microscope. However, the current administration and their figurehead, President George W. Bush, have to undergo an entirely different kind of scrutiny. Presently, faced with a federal budget surplus provided by their predecessors, the Bush Administration is proposing to fund a tax cut, which has democrats up in arms. While President Bush tries to gain bi-partisan support on Capitol Hill for his proposed tax cut, he continues to formulate his agenda by voicing his administration's view in a public forum. Since his belated inauguration in early 2001, President Bush has been propagating his different agendas from education to campaign reform. One of his biggest and, perhaps, most debated proposals is that of his $1.6 trillion dollar tax cut over the next ten years. Spurned on by the Congressional Budget Office's (CBO) forecast of a $5.6 trillion budget surplus over the next ten years, Bush's Administration believes that there is more than enough room for a cut of that size. Now, the question still remains of whether or not the Democrats in senate wi
Since Corporate America is now certain that there will be a significant tax cut made, the coporate lawyers and tax lobbyists are licking their chops. " The party's large and growing centrist element is willing to support perhaps a portion of the cuts, and they favor some of the business-tax breaks that the Bush white house opposes. "3 As the finite details of the proposal are being reviewed and tinkered with in congress, the President can now take time to address the real social exploiters: Corporate Lobbyists. He is staking his presidency on a plan to cut marginal rates, even for the rich. No matter how narrow his victory or how shaky the GOP's hold on the congress, Bush is acting like a man with a sweeping mandate. 2 trillion dollar tax cut, only $400 billion off from the original.
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