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John Snow on Tax Reform

Treasury Secretary (Pres. Bush Cabinet)

 


Tax cuts work to grow the economy

Our economy is resilient. Thanks to the ingenuity and productivity of the American worker and President Bush’s tax cuts, we are quickly recovering and growing our economy after events that would have set many countries back several years. And we have continued to grow, be creative and productive. There are a few simple truths about how to grow an economy. Tax cuts work. Excessive litigation does not. Letting the free market operate freely. works. Burdening entrepreneurs does not.
Source: Speech to the American Tort Reform Association , Mar 16, 2004

Permanent tax relief allows planning for future

We’ve got to enable families and businesses to plan for the future with confidence. That means making the President’s tax relief permanent. Rate reductions, the increase in the child tax credit and the new incentives for small-business investment - these will all expire in a few years. Expiration dates are not acceptable - we want permanent relief. The ability of American families and businesses to make financial decisions with confidence determines the future of our economy. And without permanent relief, incentives upon which they can count, we risk losing the momentum of the recovery and growth that we have experienced in recent months. The tax relief is the key stimulus for increased capital formation, entrepreneurship and investment that cause true economic growth. Budgets work better when the economy is growing. because a growing economy means more jobs. That means more tax revenue. which leads to all-important deficit reduction.
Source: Remarks to Tampa (FL) Business Leaders , Feb 10, 2004

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Page last updated: Sep 28, 2018