--Bush reiterates economy makes stronger case for his tax cut plan
By Richard Cowan, BridgeNews
Washington--Jan. 24--President Bush again Wednesday spoke in pessimistic terms about the future of the U.S. economy and said the current downturn makes a stronger case for passage of his $1.6-trillion tax cut plan.
* * * "The economy is not as hopeful as we would like," Bush told reporters before meeting with congressional leaders at the White House. Bush added that it has "become more and more clear" that the economic downturn showcases the need for a major across-the-board tax cut.
Bush and Democratic and Republican congressional leaders were meeting to discuss a new education plan the administration is pushing this week as well as other legislative priorities like the tax cut.
While Bush wants a permanent across-the-board income tax cut that would cost at least $1.6 trillion over 10 years, Democrats have been talking about a more targeted series of tax cuts in the range of $500 billion to $700 billion over the same time period. End
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