House Raises Questions on Dividend Taxes and Deficit
New York Times (02/05/03) ; Andrews, Edmund L.

In a hearing with Treasury Secretary John Snow, several House Republicans voiced their doubts about President Bush's proposed tax cuts, and expressed concerns over the deficit increases that would result if the tax on dividends is cut. Bush's budget proposal for 2004 estimates that the accumulated deficit could reach $1.1 trillion by the end of 2008, and figures show that the proposed elimination of the tax on stock dividends would cost the Treasury about $300 billion over 10 years. Views expressed at the hearing signaled waning support for the president's proposed tax cuts in the House.


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