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GOP Hopes For More Tax Cuts, "Ownership' In 2nd Bush Term Growth wing's wish list ambitious yet possible, but Iraq dominates all.(A)

Investor's Business Daily

| September 03, 2004 | COPYRIGHT 2004 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: BRIAN MITCHELL

For all the fuss over the last four days, Republicans are looking now to the next four years - and to the unfinished business of President Bush's first term.

Incumbents have the advantage - or disadvantage - of running on their records. All they really have to promise voters is more of the same.

That's exactly what pro-growth Republicans would like to see - more tax cuts.

"That's the best thing the feds can do," said Colorado Gov. Bill Owens. "Low federal taxes drive such significant economic growth, and economic growth drives up our tax revenues."

First, though, they'd like to see Bush's first round of tax cuts made permanent.

The 2001 cuts were to provide $1.4 trillion in tax relief over 10 years. But to get around budget rules, Congress inserted a Cinderella clause that repeals the cuts at the end of 2010.

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