Washington, D.C. - Citizens Against Government Waste (CAGW), America's largest taxpayer advocacy group, today applauded President George W. Bush for signing into law, the largest tax cut, $1.35 trillion, to have passed Congress in 20 years.

The legislation, approved by Congress on May 26, reduces most income tax rates, eliminates the estate tax and improves the tax treatment of marriage and children. The tax cut is designed to limit the government's ability to increase spending in the post-federal-deficit years.

"Across the board tax relief does not happen often in Washington, D.C. In fact, since World War II, it has happened only twice: President Kennedy's tax cut in the 60's and President Reagan's tax cuts in the 1980's. And now its happening for the third time, and its about time," President Bush said at the tax cut bill ceremony.

The tax relief package advocates greater justice in the tax code by reducing marginal rates across the board, eliminating the marriage penalty for most middle class taxpayers, and phasing out the death tax by the year 2010. Family-incentive proposals include doubling the child credit from $500 to $1000, and education-incentive proposals include an above-the-line deduction for higher education expenses.

"I applaud President Bush on this monumental achievement," CAGW President Thomas A. Schatz said. "This tax cut is the first step in stimulating the economy and forcing the government to practice fiscal restraint," said Schatz.

CAGW is a nonpartisan, nonprofit organization with over a million members and supporters, dedicated to eliminating waste, fraud, and abuse in government.