Tomorrow, when the budget is actually put forward, many of the specifics will be contained but tonight, the president highlighted America's priorities and the key budget funding items. President Bush's tax plan uses roughly one-fourth of the surplus for responsible and fair tax relief. It's important that we not squander the benefits of these good economic times. I think there's broad bipartisan support for President Bush's tax relief plan. Tax relief puts more money in the pockets of families, allowing them to pay down their personal debt and putting more in the hands of entrepreneurs.
Federal taxes are at the highest peacetime rate in history.
Americans pay more in taxes than they spend on food, clothing and housing combined. This year, it will take most Americans more than four months of paychecks to pay their tax burden. That is unacceptable. It's been a pleasure, and I hope to visit with you often. An AOL Time Warner Company.