US President Asks for 550 Billion Dollars of Tax-cutting

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Last updated at: (Beijing Time) Wednesday, April 16, 2003

US President Asks for 550 Billion Dollars of Tax-cutting

US President George W. Bush on Tuesday asked for at least 550 billion dollars of tax-cutting.

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US President George W. Bush on Tuesday asked for at least 550 billion dollars of tax-cutting.

In a speech delivered in the Rose Garden of the White House, Bush once again stressed the need to get his massive tax package passed at the Congress in order to boost the fragile US economy.

Bush said that his tax-cutting plan is good for investment and job creation, saying that the tax relief proposal will create 1.4 million jobs.

Bush said the best way to deal with the deficit problem is to promote economic growth through tax-cutting and to reduce spending in Washington, DC.

Bush has proposed a massive tax-cutting plan of 726 billion dollars, but some analysts here said that Bush is likely to get something finally but may not be able to get the whole thing of his tax plan from the Congress.

Analysts also said that Bush is renewing his efforts to promote the tax plan as the Iraqi war is closing.

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