Sentence:  Mr. Richard Preston , executive director of the New Hampshire State Planning and Development Commission , in his remarks to the Governors Conference on Industrial Development at Providence on October 8 , 1960 , warned against the fallacy of attempting to attract industry solely to <WSD>reduce</WSD> the tax rate or to underwrite municipal services such as schools when he said : `` If this is the fundamental reason for a community 's interest or if this is the basic approach , success if any will be difficult to obtain '' . 
Meaning of the word marked with <WSD> tags:  cut down on; make a reduction in