BILL REQ. #:  S-0817.1 

Read first time 01/23/2003.   Referred to Committee on Ways & Means.

     TO THE HONORABLE GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES, AND TO THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE OF REPRESENTATIVES, AND TO THE SENATE AND HOUSE OF REPRESENTATIVES OF THE UNITED STATES, IN CONGRESS ASSEMBLED:
     We, your Memorialists, the Senate and House of Representatives of the State of Washington, in legislative session assembled, respectfully represent and petition as follows:
     WHEREAS, President Bush has proposed an economic growth and tax relief plan designed to strengthen the American economy and deliver critical help to unemployed citizens; and
     WHEREAS, President Bush's plan removes the double taxation of dividends, speeds up tax cuts already passed in 2001, increases business expensing, and helps unemployed workers in order to speed up economic recovery and encourage job creation; and
     WHEREAS, Over fifty percent of the population invests in the stock market and senior citizens receive fifty percent of dividend payments; and
     WHEREAS, Everyone who invests in the stock market and receives dividend income – especially senior citizens – will benefit from the elimination of the double taxation on dividends and all Americans benefit from a strong stock market; and
     WHEREAS, Everyone who pays taxes, especially middle-income Americans, will receive additional relief by the accelerated reduction of the marriage penalty tax, a faster increase in the child tax credit, and the immediate implementation of the new, lower ten percent tax bracket; and
     WHEREAS, Every small business owner who purchases equipment will benefit greatly from the increase in expensing limits from twenty-five thousand dollars to seventy-five thousand dollars which will allow for reinvestment of capital into the economy and create jobs;
     NOW, THEREFORE, Your Memorialists respectfully pray that our elected Representatives and Senators in the United States Congress support and vote to enact President Bush's 2002 Economic Growth and Tax Relief Plan.
     BE IT RESOLVED, That copies of this Memorial be immediately transmitted to the Honorable George W. Bush, President of the United States, the President of the United States Senate, the Speaker of the House of Representatives, and each member of Congress from the State of Washington.