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Snow Tells Democrats Reversing Tax Cuts Would Be a 'Terrible Mistake'

by Mike Godfrey, Tax-News.com, Washington

24 October 2003

In a radio interview earlier this week, US Treasury Secretary John Snow said any attempt to reverse recent tax cuts would be extremely damaging to the United States economy and would stall the fragile economy recovery.

Whilst speaking on a Chicago radio station, Mr. Snow referred to plans being formulated by some of the Democratic Presidential nominees which would seek to roll back much of the tax cuts, a policy he said would be “a terrible, terrible mistake.”

Snow pointed to recent figures indicating that the recovery is accelerating, though he conceded that economic data was mixed as regards employment and stated that there is still more to be done to help the recovery, pledging the government “will not rest until everyone who wants a job has one.”

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