Letter to the Senate Majority Leader and the Chairman of the Senate Finance Committee on Proposed Tax Legislation

Dear Howard: (Dear Bob:)

As the Senate begins its consideration of the tax bill, I wish to emphasize my personal support for the bill produced by the Senate Finance Committee.

In my opinion, adoption of this bill will lead us on a downward path of deficit reduction, improve the fairness of the tax system, and maintain the integrity of my economic recovery program. Rather than raising taxes across-the-board, the bill focuses on improvements in taxpayer compliance, the removal of obsolete incentives, and the elimination of unintended abuses. In fact, more than three-fourths of the increased revenues will come from increased compliance and base broadening measures.

I am particularly pleased the bill preserves the individual rate reductions enacted last year. These provisions are essential to ease the burden on individual taxpayers and to restore long-term health and vitality to our economy.

Although I do have some reservations about a few items, it is a good and balanced bill which I can endorse. I know you are aware of my views but I hope you will assure your colleagues of my support for the bill.

Sincerely,

RON