http://romcache.tripod.com/Bush2000PressRelease.pdfA Reformer with Results
FOR IMMEDIATE RELEASE CONTACT: Ari Fleischer,
Tuesday, May 2, 2000 Mindy Tucker, Scott McClellan
512/637-7777
BUSH CAMPAIGN RELEASES BUDGET DATA
Bush Budget Balances While Shoring Up Social Security and
Cutting Taxes
Official Score of the Bush Tax Cut is Below Campaign Estimate
AUSTIN—The Bush for President campaign today released a detailed budget analysis showing that the
Bush budget balances, spends the lion’s share of the surplus on Social Security and debt reduction while
still providing for significant tax relief. The data update the Congressional Budget Office forecast,
given the actual performance of the economy. The Bush campaign now estimates the unified surplus to
be $199 billion for fiscal year 2000. Further, the nonpartisan Joint Committee on Taxation scored the
Bush tax cut below previous estimates.
“These numbers demonstrate that Governor Bush’s balanced budget provides more than a
trillion dollars of the surplus for Social Security and debt reduction, and still leaves $460 billion for a tax
cut and $187 billion for other budget priorities,” said Bush for President economic advisor and former
Federal Reserve Board Governor Lawrence Lindsey.
“The bottom line is clear: Governor Bush’s plan takes care of Social Security first, provides
America’s working families with a tax break, and does it all within the context of a balanced budget,”
Lindsey continued. “In particular, the Joint Committee on Taxation estimate proves that Vice President
Gore was badly mistaken, inaccurately portraying Governor Bush’s plan as costing 60 percent more than
it actually does. Now that the nonpartisan on Joint Committee on Taxation has settled the debate about
the cost of Governor Bush’s tax cut, Americans can contrast the Governor’s priorities with the Vice
President’s plan to spend more of the surplus in government programs than Governor Bush provides in
tax relief. We look forward to that debate. And in the spirit of fair debate, we hope Vice President Gore
will soon release independent scoring of his spending proposals.”
According to numbers released today by the Bush campaign, the Bush balanced budget provides:
¨ 62% of the surplus for Social Security and debt reduction.
¨ 27% of the surplus to reduce taxes.
¨ 11% of the surplus for remaining budget expenses.