BILL REQ. #:  S-3686.1 

Read first time 01/22/2004.   Referred to Committee on Ways & Means.

     TO THE HONORABLE PATTY MURRAY, THE HONORABLE MARIA CANTWELL, THE HONORABLE JAY INSLEE, THE HONORABLE RICK LARSEN, THE HONORABLE BRIAN BAIRD, THE HONORABLE RICHARD "DOC" HASTINGS, THE HONORABLE GEORGE NETHERCUTT, THE HONORABLE NORM DICKS, THE HONORABLE JIM MCDERMOTT, THE HONORABLE JENNIFER DUNN, AND THE HONORABLE ADAM SMITH:
     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, Each year President Bush has proposed and Congress has enacted a tax cut designed to strengthen the American economy and increase employment opportunities for working families; and
     WHEREAS, Tax cuts signed into law reduced income taxes for all taxpayers, eliminated the marriage penalty and Death Tax, increased the child credit rebate and business expensing, expanded Individual Retirement Accounts, and cut the double taxation of dividends and capital gains; and
     WHEREAS, Economic growth stemming from the latest tax cut accelerated at its fastest rate in twenty years in the third quarter of 2003; and
     WHEREAS, Provisions set forth in the tax cut are set to expire starting in 2005 and will be completely phased out by the year 2012; and
     WHEREAS, Expiration of the existing tax cuts will increase taxes by 50 percent for lower-income families, the child credit will fall by 50 percent, the marriage penalty will be reinstated, education savings will be taxed, retirement savings will shrink, and every taxpayer will face an income tax increase; and
     WHEREAS, Expiration of the existing tax cuts will result in the largest tax increase in American history and stifle economic growth; and
     WHEREAS, Making all the tax cuts permanent will allow taxpayers to feel more confident investing in their child's college education or saving for retirement, all while ensuring increased economic growth;
     NOW, THEREFORE, Your Memorialists respectfully pray that our members of Congress support and vote to make President Bush's tax cuts permanent.
     BE IT RESOLVED, That copies of this Memorial be immediately transmitted to each member of Congress from the State of Washington.