The Washington Post reports on Republican Senators who are already raising objections to the President’s tax cut package. Joining the always-treacherous John McCain and the Missing Linc are Charles Grassley, Olympia Snowe, George Voinovich and Susan Collins. It is hard to see how President Bush can bargain effectively with the Democrats when he is already being sold out by this many Senate Republicans. Nevertheless, indications are that the Administration will fight hard for the tax cut plan. President Bush will go on the road to promote it as he did two years ago, and the bill will start in the House where party discipline is better and speedy passage is likely.
The proposal to eliminate taxation on dividends appears to be in the most trouble. On the bright side, acceleration of the already-scheduled marginal rate reductions and elimination of the marriage penalty apparently are looking secure.
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