Statement of Administration Policy: H.R. 3838 - Tax Reform

(House)
(Rostenkowski (D) Illinois and 20 others)

As the President stated on December 4, 1985, both the House Ways and Means Committee and the Ways and Means Republicans have developed tax reform proposals that, like the Administration's own proposal, represent substantial progress from current law.

But this is only a good start, not an end product. More can and must be done to broaden the tax base, reduce tax rates further, and lower the cost of capital, so that we can strengthen economic growth and personal opportunity for every American. Any legislation that ends up retarding economic growth, and thereby diminishing the number of jobs upon which American families depend, is not what we mean by "tax reform." True tax reform is imperative. The first step must begin with a positive vote in the House of Representatives.