Congresswoman Nancy Pelosi

Pelosi: 'Tax Cut Will Not Grow the Economy, Only the Deficit'

May 23, 2003

Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement on the Republican tax bill passed by the Congress this morning:

"This tax cut is a tragedy. It does not create jobs and it does not grow the economy--the only thing it grows is the deficit.

"This tax cut is the unraveling of fiscal responsibility. By promoting his unnecessary, unfair, and fiscally unsound tax cut, President Bush created a tax cutting frenzy among Congressional Republicans. The result is a bill to put our children $1 trillion in debt.

"President Bush and Republicans in Congress never miss an opportunity to miss an opportunity to do what is right for average Americans. Instead of investing in our children, we are indebting them. We are mortgaging their futures for a tax break that benefits those who need it least, at the expense of investing further in the education of our children."


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