"Possible roll-back makes long-term financial planning impossible," Schatz says.

(Washington, D.C.) – The Council for Citizens Against Government Waste (CCAGW), on behalf of its one million members and supporters nationwide, called on Congress to make last year's tax cuts permanent.

"The nation is struggling to emerge from a recession," CCAGW President Tom Schatz said.  "Businesses are starting to view the future optimistically again, but they are still reticent.  Our economy would be growing more robustly and confidently if last year's tax cuts were accelerated and made permanent.  This will enable individuals and businesses to better estimate their future liabilities and therefore make more rational decisions."

"As the various tax reductions go into effect, people will have more take-home pay to spend and invest.  Small businesses that pay on the personal income tax schedule will find their taxes going down too, helping them to be more successful," Schatz added.

"By the time the cuts are fully phased in, 43 million married couples will see their taxes reduced by an average of $1,700 per year, and those with children will receive an annual tax cut of more than $1,500.  This money will help buy new goods and services and encourage entrepreneurs and investors to take new risks and try new ventures," Schatz continued.  "All of this will end in nine years if Congress does not make the cuts permanent.  As the expected tax hike approaches, financial advisors and accountants will advise their clients to shelter their money, businesses will stop hiring, and citizens will stop spending, knowing that just around the corner they will face higher taxes.  As a result, the economy will be damaged."

"We have also seen what leaving money in Washington will do," Schatz also said.  "As just one example, the 2002 Congressional Pig Book chronicled a record 8,341 pork barrel projects, costing taxpayers $20.1 billion.  CCAGW wants Congress to fix these tax problems now so that taxpayers, investors and businesses can focus on growing the economy and not dodging the IRS.  We ask that our representatives and senators vote in favor of making last year’s tax cuts permanent, and note that this vote will be considered in CCAGW’s 2002 Congressional Ratings."

The Council for Citizens Against Government Waste is the lobbying arm of Citizens Against Government Waste, the nation's largest nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.