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FEDERAL TAX POLICY ON THE NEW MILLENNIUM:MARK BLOOMFIELD
- Article from:
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Congressional Testimony
- Article date:
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January 20, 1999
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AMERICAN COUNCIL FOR CAPITAL FORMATION
Statement of Mark Bloomfield, President, American Council for Capital
Formation
Before the Senate Budget Committee January 20, 1999
OVERVIEW. ACCF proposes that, only if there is a federal budget surplus
over and above the surplus in the social security trust fund and if
Congress
decides to enact a multiyear tax cut, at least one-third of the cuts
should
be dedicated to saving and investment initiatives. Such a plan, modeled
on the brilliantly conceived Kennedy-Johnson tax cuts of the 1960s
and
the Reagan tax cuts of the early 1980s, would enhance competitiveness,
increase economic growth, and promote retirement security.
As ...