Bush Ready To Forge Ahead With Second Term Tax Reform

by Mike Godfrey, Tax-News.com, Washington

08 November 2004

Shortly after returning triumphant to the White House last week, the re-elected President George W. Bush signalled his intent to forge ahead with broad-based reform of the US tax code in his next four year term.

“We must reform our complicated and outdated tax code. We need to get rid of the needless paperwork to make sure our economy is the most competitive in the world,” Bush told reporters during a White House conference held shortly after his Democratic rival, John Kerry conceded defeat.

He continued: “This is an administration that fully understands that the job creators are the entrepreneurs. And so in a new term, we will make sure the tax relief continues to be robust for our small businesses. We'll push legal reform and regulatory reform because I understand the engine of growth is through the small business sector.”

However, Bush countered claims that the tax reforms will be used to slip covert tax increases into new legislation.

“It’s just not my style,” he stated, adding:

“I don't believe we need to raise taxes. I've said that to the American people. And so the simplification would be the goal. But the main thing is that it would be viewed as fair, that it wouldn't be complicated, that loopholes wouldn't be there for special interests.

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