Winning tax reform.(American Bankers Association lobbies for tax cut proposed by President George W. Bush)(Brief Article)

ABA Banking Journal, March, 2001

Over and above banking-specific legislation, ABA and its Team 21 grassroots network are working the halls of Congress in support of the Bush Administration's tax-reform plan. The measure would, among other things, sharply reduce the marriage penalty, reform the death tax, and simplify and reduce federal tax brackets.

It also would expand Education Savings Accounts, and ABA is working to generate support for further expansion of Individual Retirement Accounts and 401(k) accounts. ABA Chief Lobbyist Ed Yingling says Americans "need all the tools available to save for their future. Since the national savings rate is at the lowest point since the Great Depression, it is an understatement to say that Americans aren't saving enough."