Congressman Jim Leach says while he would vote to extend the tax cuts approved two years, ago, he will not support additional tax cuts. Leach says the government can’t proceed with new expenses in national security and expect to pay for them with tax cuts. Leach says the country “has to have more discipline than that.” President Bush’s tax cut package was scaled back last week by the Republian-led Senate. Leach says as attractive as the individual tax cuts Bush suggested may be, it’s “probably imprudent to press them at this particular time.” Leach says by foregoing the tax cuts the President proposed, there could be more federal spending on domestic programs.) Leach says Bush’s proposal to do away with inheritance taxes would be “unfair” because it would be a big break for the “extremely well-to-do.” In addition, Leach opposes the proposal to do away with federal taxes on stock income. He says that’s “unrealistic” at this time of war.
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