SCHAKOWSKY: BUSH ADMINISTRATIONS MISSTATEMENT OF THE DAY TAX CUTS

OCTOBER 21, 2003

SCHAKOWSKY: BUSH ADMINISTRATION'S MISSTATEMENT OF THE DAY -
TAX CUTSWASHINGTON, D.C. - U.S. Representative Jan Schakowsky (D-IL) issued today's "Bush Administration's Misstatement of the Day" on tax cuts.

While appearing in Iowa, Vice President Cheney said:

"As you know, there are some who have suggested they want to roll back the Bush tax cuts. ... I painfully hear these voices on the nightly news. But in fact, the Bush tax cuts are bringing us out of recession." (Des Moines Register, 10/21/03)

Schakowsky said, "Vice President Cheney must have had his mind on something else, like his monthly $13,000 payment from Halliburton, when he was talking about the Bush tax cuts. That's the only way you can explain his absurd comments about President Bush's tax breaks for millionaires."

Three tax cuts later, the Bush economic plan has yielded:

• 9 million people out of work
• the loss of 3.2 million private sector jobs
• the highest level of long-term unemployment in ten years.
• an additional 5 million people work part-time because they can't find a full-time job.

In addition, ".almost half of all American taxpayers will get less than $100 this year and next from President Bush's just-passed tax plan. In 2005, three-quarters of taxpayers will get less than $100, and in 2006 and later years almost nine out of ten will get less than $100." (Citizens for Tax Justice, 5/30/03)