--Greenspan: Tax receipts could slip if equity prices remain weak
--Greenspan says any long-term tax cuts should be phased in
--Greenspan repeats opposition to govt investment in private assets
--Greenspan does not comment on monetary policy in prepared text

By Edward Kean and Shihoko Goto, BridgeNews
Washington--March 2--Federal tax receipts should remain "reasonably well maintained" in the short term, despite the current weakness in the U.S.
economy, Federal Reserve Chairman Alan Greenspan said Friday. However, in remarks prepared for delivery to the House Budget Committee that largely reaffirmed comments he made in late January on budget issues, he cautioned that the growth in federal receipts could be put at risk "should equity prices remain significantly off their peaks."
* * * Greenspan cautioned that "the risk of adverse movements in receipts is still real and the probability of dropping back into deficit as a consequence of imprudent fiscal policies is not negligible."
He reiterated that any long-term tax-cut plan should be phased in and could include some kind of trigger that would limit tax cuts if budget surplus targets are not met.