• 72°
franklin county times

Lott: Greenspan endorsement good news for Bush tax cut

By By Ben Alexander/The Meridian Star
Jan. 26, 2001
Federal Reserve Chairman Alan Greenspan's partial endorsement of tax cuts is good news for President Bush's $1.6 trillion tax package, according to Senate Majority Leader Trent Lott.
Bush's 10-year tax plan has been criticized by Democrats in Washington who contend it will put a strain on a weakening economy, and that the money would better be spent on paying down the national debt.
Greenspan told congressional members Thursday that budget surpluses could be larger than had been expected leaving the window open for tax cuts. Although Greenspan apparently agrees with some form of tax cut, he did defer the question of whether or not the Bush plan was too big for Congress to decide.
Lott said he believed some form of a tax cut would be passed this year, and that it will address specific problems in the tax codes.
Lott also said he believes a vote on some form of campaign finance reform could be taken in the Senate by March or April. Lott said Sen. John McCain, R-Arizona, who has sponsored legislation aimed at stopping the flow of "soft money" into political campaigns, understands the need to let President Bush set his agenda in motion.
Lott said he did not support the McCain-Fiengold Bill because it didn't cover enough issues.
Lott said some of McCain's proposals don't cover election law reforms and that they would, in fact, take too much power away from citizens by limiting private contributions.
Without those private contributions, Lott said, the political aspirations of many of America's blue-collar workers would be destroyed because they couldn't afford to pay their own campaign expenses.
Ben Alexander is a staff writer for The Meridian Star. E-mail him at balexander@themeridianstar.com.

Franklin County

PROGRESS 2024: Veteran Spotlight – Tony Chard

News

Car show benefit helps raise needed funds

News

Russellville High School varsity cheerleaders attend UCA cheer camp

Franklin County

NWSCC receives $18,000 in grants from Dollar General Literacy Foundation

News

Russellville equine therapy visits library program

News

Steam locomotive delivery to Red Bay delayed, arrives July 1

News

Local author holds book signing at RPL

Franklin County

Former Russellville resident performs ‘Miracle Worker’

News

Presenting: Miss Phil Campbell

Franklin County

All American Tang Soo Do students recognized

News

Russellville High School students sign to pursue fine arts careers

Franklin County

Football Funday, special needs probowl take place June 15

Galleries

PHOTOS: RMS students take the stage for spring sing

News

Russellville member named among finalists for GFWC Jennie Award

East Franklin

East Franklin Junior High celebrates May 21 graduation

Belgreen

Belgreen Class of 2024 celebrates graduation

Franklin County

Local churches plan Vacation Bible School programs

Galleries

PHOTOS: Tharptown High School Wildcats graduate

Galleries

PHOTOS: Phil Campbell High School students graduate

Franklin County

NEMCC announces more than 400 to spring vice president’s list

Franklin County

UNA releases spring dean’s, president’s lists

News

Roxy holds June 15 concert, plans other events

Franklin County

Free summer meal program available at Franklin County Schools

News

PHOTOS: Red Bay High School graduates celebrate

x