Statement on Action by the Senate Finance Committee on Federal Tax Reduction Legislation

The votes taken today by the Senate Finance Committee are important first steps toward passage of a bipartisan tax reduction bill. On both votes there was widespread support from both sides of the aisle for administration objectives. I was especially gratified by the support shown for our proposed 5-10-10 reductions in individual income tax rates.

I am deeply grateful to the members of the Senate Finance Committee, and I am especially grateful to Committee Chairman Robert Dole for his leadership and wise counsel.