S 0333 Concurrent Resolution, By Leatherman, McConnell, Peeler, Giese, Mescher, 
Richardson, Waldrep, Courson, Wilson, Grooms, Ritchie, Fair, Bauer, Hayes, 
Martin, Hawkins, Alexander, Verdin, Thomas, Ryberg and Gregory
 A CONCURRENT RESOLUTION MEMORIALIZING THE CONGRESS OF THE UNITED STATES TO
 ENACT PRESIDENT BUSH'S TAX CUT PROPOSAL FOR THE PURPOSE OF STIMULATING THE
 AMERICAN ECONOMY AND ALLOWING AMERICAN TAXPAYERS TO KEEP MORE OF THEIR INCOME.

   02/15/01  Senate Introduced SJ-7
   02/15/01  Senate Referred to Committee on Finance SJ-7

MEMORIALIZING THE CONGRESS OF THE UNITED STATES TO ENACT PRESIDENT BUSH'S TAX CUT PROPOSAL FOR THE PURPOSE OF STIMULATING THE AMERICAN ECONOMY AND ALLOWING AMERICAN TAXPAYERS TO KEEP MORE OF THEIR INCOME.

Whereas, numerous market indicators and analysts are predicting that the United States economy, which has experienced record growth in recent years, may soon be feeling the negative effects of the business cycle, leading to less consumer spending and increasing unemployment; and

Whereas, there appears to be a consensus among economic advisors, including the Federal Reserve Board, managers of the nation's monetary policy, that a federal tax cut would give Americans more income to save and invest; and

Whereas, President George W. Bush and his administration are committed to encouraging economic growth and reducing the tax burden imposed on the American people by allowing citizens to keep more of what they earn to invest in ways they see as being most beneficial; and

Whereas, it is estimated that the United States government will enjoy a 5.6 trillion dollars budget surplus over the next ten years and that these figures illustrate the degree to which Americans are currently being over taxed; and

Whereas, President Bush, in his first one hundred days in office, has proposed a tax cut of 1.6 trillion dollars over a ten-year period, a plan that includes cutting income tax rates across the board, reducing the tax penalty that forces married couples to pay more than single individuals, eliminating the tax levied against inherited property, and increasing tax breaks for contributions made to charity; and

Whereas, these tax rate reductions put forth by President Bush will benefit Americans at every income level by lowering the highest tax bracket from 39.6 percent of gross income to thirty-three percent and the lowest bracket from fifteen percent to ten percent, and it is predicted that this plan would return about one thousand six hundred dollars to a working family of four with an income of forty thousand dollars a year, with the President asserting that what is good for one family's economy, when multiplied, is good for a nation's economy. Now, therefore,

Be it resolved by the Senate, the House of Representatives concurring:

That the members of the General Assembly, by this resolution, memorialize the Congress of the United States to enact the tax cut plan proposal by President Bush for the purpose of stimulating the United States economy and allowing American taxpayers to keep more of their income.

Be it further resolved that a copy of this resolution be forwarded to the Honorable Dennis Hastert, Speaker of the United States House of Representatives, the Honorable Richard Cheney, President of the United States Senate, and each member of this State's congressional delegation.