R 160

2003 -- H 6245 SUBSTITUTE A

Enacted 04/24/03

H O U S E R E S O L U T I O N

MEMORIALIZING THE UNITED STATES CONGRESS TO OPPOSE PRESIDENT GEORGE

W. BUSH'S PROPOSED TAX CUT

Introduced By: Representatives Handy, McHugh, Aubin, Benson, and Sherlock

Date Introduced: March 27, 2003

     WHEREAS, The State of Rhode Island believes in providing quality services to those

among its residents who are in need; and

     WHEREAS, The Bush Administration's proposed tax cut will cost the State of Rhode

Island at least $22 million per year over the next decade; and

     WHEREAS, The State of Rhode Island is projected to lose over 500 jobs under this tax

plan over the next 10 years; and

     WHEREAS, The Bush Administration's planned tax cut would yield an average return of

less than $100 to 50% of Rhode Island's citizens, only $215 to middle income Rhode Islanders,

while the top 1% of Rhode Islanders would receive over $22,039 in the first year alone; and

     WHEREAS, The tax cuts will deepen an already difficult financial crisis faced by the

State of Rhode Island; and

     WHEREAS, Rhode Island relies on federal aid in the form of Medicaid reimbursements,

general economic assistance, increased spending on transportation and housing development,

direct homeland security funding, and a strong Social Security system; and

     WHEREAS, The Bush Administration's planned tax cut would undermine our efforts in

these areas, as well as provide little tax relief to the vast majority of the citizens of Rhode Island;

and

     WHEREAS, Over 450 economists, including 10 Nobel Prize winners, have signed a

letter indicating that President Bush's planned tax cut will not provide a short-term economic

stimulus, and will worsen the long-term budget outlook, reducing the government's ability to

finance Social Security, Medicare, investment in our schools, health, infrastructure and basic

research; and

     WHEREAS, Since the enactment of the last tax cuts, the nation has gone from a budget

surplus to a significant budget deficit; now, therefore be it

     RESOLVED, That this House of Representatives of the State of Rhode Island and

Providence Plantations hereby memorializes the Rhode Island Delegation to the United States

Congress to oppose President George W. Bush's proposed tax cut; and be it further

     RESOLVED, That the Secretary of State be and he is hereby authorized and directed to

transmit duly certified copies of this resolution to President George W. Bush, the members of the

Rhode Island Delegation to the United States Congress, and Governor Donald L. Carcieri.

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LC02927/SUB A

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