Alex's Outlook

Saturday, May 24, 2003

You have to love Tom DeLay. "The President's budget indicated $1.3 trillion in tax cuts, and you bet we're coming back for more," he said after sending the $330 billion tax cut to the White House. The final "itty bitty" package cuts capital gains and the top dividend tax rate to 15 percent through 2007 (zero for lower-income investors). It also accelerates all the scheduled income tax cuts to now, retroactive to Jan. 1, 2003.

DeLay needs to do something about the Texas Democrats' coup two weeks ago that killed the GOP redistricting bill. DeLay's job would be safe if he got another seven seats from Texas, but Rick Perry doesn't want the political flak and Texas House leader Tom Craddick has already gotten a lot of flak for it. If he gets it through this year, any possible backlash would have cooled off by 2004.

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