Administration Backtracks On Tax Cuts, But Not Far Enough
In the face of renewed attacks from what is left of his party’s fiscal conservatives, Bush is signaling today that the goal posts are moving in the tax cut debate. Up until Katrina, the White House was pushing full speed ahead with making the 2001 and 2003 tax cuts permanent, and making the Paris Hilton tax cut permanent. While Democrats and public opinion polls now show support for repealing the 2001, 2003, and Paris Hilton tax cuts to pay for Katrina and our other BushCharge obligations, the White House has now moved the goal posts today and instead would declare victory if only we kept things where they are at now, leaving the current tax cuts in place until their expiration later this decade. Democrats should keep pounding away that sparing the wealthy from any sacrifice is no longer acceptable, and that the upper income, corporate and dividend, and Paris Hilton tax cuts are on the table.