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TO MEMORIALIZE THE CONGRESS OF THE UNITED STATES TO ENACT INTO LAW THE COMPREHENSIVE TAX REDUCTIONS AND RELATED PROPOSALS MADE BY PRESIDENT GEORGE W. BUSH IN HIS TELEVISED ADDRESS TO THE NATION ON TUESDAY, FEBRUARY 27, 2001.
Whereas, on Tuesday, February 27, 2001, President George W. Bush addressed the nation and among other proposals recommended a 1.6 trillion dollar tax reduction package over a ten-year period; and
Whereas, this recommended tax cut encompasses all aspects of tax policy in our country including across the board reductions in all income tax brackets, increases in the child credit and other proposals to benefit families and Americans on the lower end of the income scale, and a phase-out of the federal estate tax over a period of years; and
Whereas, we are fortunate to be in a period when there are substantial budget surpluses in the federal treasury and it is only fitting that a portion of these surpluses be returned to the taxpayers who through their hard work generated them; and
Whereas, this tax package is also needed now not only because it is sound fiscal policy but also because if some economists are correct and the growth of our nation's gross national product has slowed, these tax reductions with a retroactive effect in some cases to January 1, 2001, will help restart our economy and head-off a possible recession; and
Whereas, the members of the South Carolina General Assembly, by this resolution, publicly express their support for this comprehensive tax proposal and believe the Congress of the United States should pass this proposal without delay and forward it to President Bush for his signature. Now, therefore,
Be it resolved by the House of Representatives, the Senate concurring:
That the members of the South Carolina General Assembly hereby memorialize the Congress of the United States to enact into law the comprehensive tax reductions and related proposals made by President George W. Bush in his televised address to the nation on Tuesday, February 27, 2001.
Be it further resolved that a copy of this resolution be forwarded to the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.
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