[Mb-civic] NYTimes.com Article: Fiscal Sanity at Bay

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Fiscal Sanity at Bay

July 20, 2004
 


 

For all the late-blooming talk of fiscal responsibility
from Republican moderates, an election year cave-in is
shaping up in the Senate as the White House pushes for a
fast renewal of some of the "temporary" tax breaks set to
expire this year. Unlike the administration's giveaways to
the wealthy, these cuts are among the more worthy and
politically risky to oppose: extending tax relief for
married couples, for families with children and for
taxpayers in the lowest bracket, 10 percent. 

But the issue is not the virtue of the cuts but whether
Congress should be forced to make up the cost with spending
reductions or - great idea - by increasing taxes on the
wealthy and closing loopholes for corporate taxes. Until
now, four Senate Republicans have been standing with the
Democrats, demanding an end to the administration's binge
of record budget deficits and detaxation. Two of the
Republicans, John McCain of Arizona and Susan Collins of
Maine, have indicated support for the tax-cut extensions
without their usual stipulation that the money to pay for
them be found elsewhere first. This is unfortunate. 

The White House obviously feels it cannot lose by pushing
the tax-cut extensions right before the political
conventions. Either Mr. Bush will be able to brag about
still more tax cuts, or he can demonize Democrats and
others who dare to defeat the package on budgetary grounds.
We urge the Republican moderates, including Olympia Snowe
of Maine and Lincoln Chaffee of Rhode Island, not to
abandon their fight for fiscal responsibility. 

http://www.nytimes.com/2004/07/20/opinion/20tue2.html?ex=1091339854&ei=1&en=aaf1d2969fbd7dd0


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