Tax Cuts: Medicine For Mad Dow Disease?

George W. Bush has argued that his $1.6 trillion tax-cut plan would help America dodge a recession. But because its most generous provisions don't kick in until after 2003, the President's proposal can't provide much countercyclical punch before then. Democrats, who oppose the measure as too large and too favorable to the rich, several weeks ago called for $60 billion to $80 billion in tax cuts this year, many of them targeted at middle- and low-income groups. The idea: offer people some money now so they'll spend and give the economy a boost.

G.O.P. legislators began moving that way last week....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!