January 16, 2002

Washington, D.C.-The Small Business Survival Committee (SBSC) today blasted Senator Ted Kennedy's (D-MA) speech before the National Press Club in which he laid out a lengthy job-killing agenda including raising taxes, reinstating the death tax, and increasing regulations and mandates on American businesses.

"Following Ted Kennedy's prescription for the economy would be like taking Dr. Kervorkian's presciption for the flu,"said SBSC president Darrell McKigney. "I hope Senate Majority Leader Tom Daschle - as the leader of the Senate Democrats - will publicly reject the Kennedy economic plan."

"In his speech today, Senator Kennedy left no stone unturned in his attempt to kill American jobs and drive the economy further into recession," said SBSC president Darrell McKigney.   "Senator Kennedy isn't fooling anyone by suggesting that he only wants to 'post-pone' the Bush tax cuts.   To turn a phrase, a tax cut delayed is a tax cut denied."

Raymond J. Keating, SBSC's chief economist, added: "Senator Kennedy's desire to 'put on hold' future parts of President Bush's tax cut, expand government, and increase regulations, such as increasing the minimum wage, make no economic sense.  The Senator from Massachusetts offers a series of tired, class warfare proposals, which are focused on a blind belief in big government rather than in sound economic and fiscal policies that will actually help taxpayers and the economy."

Keating added: "In contrast, a common sense proposal would be to accelerate, not eliminate, the Bush tax cuts to help a faltering economy.  In particular, the Bush income tax cuts and elimination of the death tax should be implemented immediately and made permanent.  In addition, the capital gains tax should be cut deeply.  Incentives for working, saving, investing and risk taking must be enhanced to get our economy moving again."

SBSC is a nonpartisan, nonprofit small business advocacy group with more than 70,000 members across the nation.  For more information, please visit SBSC's website at www.sbsc.org, or call 202-785-0238.