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American Morning
White House Expected to Push Economic Package That Relies Heavily on Tax Cuts
Aired December 31, 2002 - 07:37 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: The Bush administration has a resolution for the new year -- jump start the economy. The White House is expected to push an economic package that relies heavily on tax cuts.
And senior White House correspondent John King takes a look at the new home front agenda.
(BEGIN VIDEOTAPE)
JOHN KING, CNN CORRESPONDENT (voice-over): The economy and health care dominate the president's domestic agenda for the new year. But already questions about how much can be done given the attention and money being focused on Iraq, al Qaeda and other challenges overseas.
KENNETH DUBERSTEIN, FORMER REAGAN CHIEF OF STAFF: I think you're going to see a heavy concentration in these months ahead on national security items and making sure that terrorism doesn't revisit American shores.
KING: Goal one of the Bush domestic agenda is an economic package that mixes more tax cuts and business incentives with an extension of unemployment benefits.
MATTHEW DOWD, BUSH POLLSTER: From a political perspective, it's the economy, the economy has a tendency to drive whether or not a president is reelected.
KING: Health care ranks next, beginning with an issue critical to elderly Americans.
NICK CALIO, WHITE HOUSE CONGRESSIONAL LIAISON: There needs to be Medicare reform with the prescription drug benefit and we'll ask Congress, he will ask Congress to take a very hard look at that very early.
KING: Democrats say compromise on the issue will be hard to come by unless Mr. Bush moves their way.
STANLEY GREENSBERG, DEMOCRATIC POLLSTER: The administration again and again and again very beholden to pharmaceutical industry, insurance industry, and very reluctant to move legislation that could really make a difference for people.
KING: Midterm election gains mean Republicans will control both chambers of Congress and the president's aggressive campaigning was a major factor.
GREENSBERG: Well, that gives the president, you know, a lot of say. Now, he also is going to be held accountable. He's also going to be held, I think, accountable for whether the economy moves, whether they address health care and a whole range of other issues.
KING: Other immediate Bush domestic priorities include faster action on judicial nominees, curbs on medical malpractice lawsuits and reauthorization of the 1996 welfare reforms. On a much slower track are discussion of major tax reforms and the president's controversial campaign 2000 promise to allow some Social Security taxes to be invested in private stock accounts.
CALIO: He has not given up on that position. He will continue to push that position. Congress sometimes moves more slowly.
KING: The president will lay out his agenda in detail in his State of the Union address a month from now.
(on camera): Officials here view the first six months of the new year as the best window for action on the president's domestic goals. As one top adviser put it, the closer you get to the 2004 campaign, the less you can expect to get done.
John King, CNN, the White House.
(END VIDEOTAPE)
ZAHN:
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Heavily on Tax Cuts>
Aired December 31, 2002 - 07:37 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
PAULA ZAHN, CNN ANCHOR: The Bush administration has a resolution for the new year -- jump start the economy. The White House is expected to push an economic package that relies heavily on tax cuts.
And senior White House correspondent John King takes a look at the new home front agenda.
(BEGIN VIDEOTAPE)
JOHN KING, CNN CORRESPONDENT (voice-over): The economy and health care dominate the president's domestic agenda for the new year. But already questions about how much can be done given the attention and money being focused on Iraq, al Qaeda and other challenges overseas.
KENNETH DUBERSTEIN, FORMER REAGAN CHIEF OF STAFF: I think you're going to see a heavy concentration in these months ahead on national security items and making sure that terrorism doesn't revisit American shores.
KING: Goal one of the Bush domestic agenda is an economic package that mixes more tax cuts and business incentives with an extension of unemployment benefits.
MATTHEW DOWD, BUSH POLLSTER: From a political perspective, it's the economy, the economy has a tendency to drive whether or not a president is reelected.
KING: Health care ranks next, beginning with an issue critical to elderly Americans.
NICK CALIO, WHITE HOUSE CONGRESSIONAL LIAISON: There needs to be Medicare reform with the prescription drug benefit and we'll ask Congress, he will ask Congress to take a very hard look at that very early.
KING: Democrats say compromise on the issue will be hard to come by unless Mr. Bush moves their way.
STANLEY GREENSBERG, DEMOCRATIC POLLSTER: The administration again and again and again very beholden to pharmaceutical industry, insurance industry, and very reluctant to move legislation that could really make a difference for people.
KING: Midterm election gains mean Republicans will control both chambers of Congress and the president's aggressive campaigning was a major factor.
GREENSBERG: Well, that gives the president, you know, a lot of say. Now, he also is going to be held accountable. He's also going to be held, I think, accountable for whether the economy moves, whether they address health care and a whole range of other issues.
KING: Other immediate Bush domestic priorities include faster action on judicial nominees, curbs on medical malpractice lawsuits and reauthorization of the 1996 welfare reforms. On a much slower track are discussion of major tax reforms and the president's controversial campaign 2000 promise to allow some Social Security taxes to be invested in private stock accounts.
CALIO: He has not given up on that position. He will continue to push that position. Congress sometimes moves more slowly.
KING: The president will lay out his agenda in detail in his State of the Union address a month from now.
(on camera): Officials here view the first six months of the new year as the best window for action on the president's domestic goals. As one top adviser put it, the closer you get to the 2004 campaign, the less you can expect to get done.
John King, CNN, the White House.
(END VIDEOTAPE)
ZAHN:
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Heavily on Tax Cuts>
