On the recordNovember 7, 2001
I rise today with Senator Murray and our other colleagues to introduce the Sales Tax Holiday Act of 2001. Since last Wednesday, when Senators Murray, Lieberman and I first publically raised the idea of a national sales tax holiday, this exciting and innovative concept has truly taken root. Indeed, the idea of a sales tax holiday has been supported by economists and editorial writers alike and from all across the political spectrum--from Alan Blinder, former Vice Chairman of the Federal Reserve Bank to Grover Norquist, President of Americans for Tax Reform. So we are talking about a bipartisan bill with support as wide as it is deep. And one thing everyone agrees on is that our National Sales Tax Holiday legislation offers the ultimate economic stimulus, literally feeding Federal stimulus dollars directly into the economy. We believe that this direct approach is perhaps the most immediate, fair, and responsible approach that will have the most stimulative effect on the economy. With December fast approaching, we need to give a ``shot in the arm'' to our economy and help restore the confidence of consumers, because we have seen a dramatic and negative reaction to the events of September 11.
Source
govinfo.gov




