On the recordJanuary 24, 2002
on January 4, one of the political leaders of the other body said President Bush's tax relief plan ``probably made the recession worse.'' Oh, really? Only $41 billion of the President's $1.35 trillion bipartisan tax relief plan went into effect last year. Of that amount, 93 percent, or $38 billion, comprised the income tax rebates that were mailed to every tax-paying American last summer and early fall. So according to this illustrious political leader, the tax rebate proposal, widely hailed by Democrats at the time, caused ``the most dramatic fiscal deterioration in our Nation's history.'' Blaming the President's plan for the cause of the recession, when the bulk of tax relief will not occur until the year 2005, is faulty logic at best. To say that providing a $300 tax rebate to working Americans during a recession probably made the recession worse does not make sense. The real reason some political leaders want to repeal tax cuts is just so they have more money for government program spending.
Source
govinfo.gov




