House GOP Pushing to Cut Corporate Taxes

House Republican leaders are nearing agreement on a bill to give nearly $60 billion in additional tax breaks to corporations, brushing aside Democratic complaints that the measure would deepen the federal budget deficit.

EL- GOP: Damn the deficit, full speed ahead!

Critics of the Bush administration contend that it is a mistake to give corporations more tax relief, because corporate taxes have been declining for years as a share of total tax revenue.

The Center for Budget and Policy Priorities, a liberal policy research group, said preliminary tax data for this year indicated that corporate taxes accounted for just 7.4 percent of total tax receipts, down from about 21 percent of total receipts in the 1960's.

EL - So we could double corporate taxes and still be giving a big tax break compared to the 60's?