Statement on Action by the Senate Finance Committee on Federal Tax Reduction Legislation

June 18, 1981

The votes taken today by the Senate Finance Committee are important first steps toward passage of a bipartisan tax reduction bill. On both votes there was widespread support from both sides of the aisle for administration objectives. I was especially gratified by the support shown for our proposed 5 - 10 - 10 reductions in individual income tax rates.

I am deeply grateful to the members of the Senate Finance Committee, and I am especially grateful to Committee Chairman Robert Dole for his leadership and wise counsel.