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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Feb 28, 2001
Page
7
President reiterates his budget strategy highlighting a 1.9 trillion dollar plan with a 31.6 billion tax cut over ten years aimed at reviving growth. He backs increased education funding, a Medicare drug benefit, and a faith based initiative while promising to pay down debt and create a contingency fund. Democrats critique tax cuts as skewed to the wealthy.
President Bush pins education as top priority calling reading the foundation of learning. He proposes tripling reading program funding to 5 billion over five years and adds character education. He defends 1.6 trillion in tax cuts, aims for a 10 percent rate, cap at one third of earnings to federal taxes, expands child tax credits, and vows a transformed military with missile defense. He also pushes charitable contributions deduction and a Compassion Capital Fund. He plans 238 billion for Medicare next year and a trillion over 10 years for future needs.
The Bush tax proposal, over $2 trillion, would consume surplus and threaten prescription drug coverage, education, defense, and other priorities. Democrats compare it to 1981 deficits, while Bush argues the plan preserves Social Security and medical funding. Republicans press for $900 billion in relief amid debt concerns.
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