Daily Tax Update - January 28, 2005

Social Security, Budget Topics of Republican Retreat This Weekend
House and Senate Republicans are holding a three-day strategy session to discuss their legislative priorities for the 109th Congress. Social Security reform and the Fiscal Year 2006 budget will be the key topics of discussion. Republicans also intend to hold strategy sessions on tax reform, class action, and medical malpractice litigation reform.

  • President Bush spoke to the attendees today and previewed some of the themes for his State of the Union address next week. The President said, "I look forward to discussing ways to keep this recovery going so people can find work. I look forward to talking to the country about the need to address big reforms like Social Security. I will continue to articulate the faith-based agenda, the compassion agenda, so that people can find hope in our country. I'll remind the people we're a great nation. We can achieve anything we set our mind to."
  • Sen. Rick Santorum (R-PA), Chairman of the Republican Conference, said, "Getting a budget passed early this spring is going to be vitally important for us to get the rest of our agenda through." Congress is expected to pass the Fiscal Year 2006 budget resolution before it attempts to reform Social Security.

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