American
Business
Conference A Coalition of Growth Companies
| For Immediate Release: |
|
Contact: John Endean |
| May 3, 2001 |
|
202-822-9300 |
CEOs Praise Budget Deal
Responding to yesterday's agreement on an FY 2002 budget plan, Barry Rogstad, president of the American Business Conference, said:
"The CEO-members of ABC support wholeheartedly the FY 2002 budget deal announced yesterday by the White House and Congressional leaders.
To be sure, we preferred the President's initial recommendation - a $1.6 trillion tax cut over ten years and a 4 percent increase in necessary discretionary spending. Nevertheless, yesterday's compromise - $1.35 trillion in tax cuts and a 5 percent increase in discretionary spending - seems to us a large and politically realistic step in the right direction.
Of course, Congress and the President are a long way from turning this agreement into law. But yesterday's deal demonstrates beyond a doubt that a powerful consensus exists in Washington and across the nation for tax relief and budget discipline within the context of necessary new expenditures. That's a welcome breath of fresh air."
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