FOR IMMEDIATE RELEASE

November 1, 2005

NICEVILLE, FLORIDA -- Vanguard PAC, one of America's leading conservative groups, today issued the following statement regarding the recommendations of President Bush's bipartisan tax reform panel.

"President Bush deserves tremendous credit for following through on his promise to push for fundamental tax reform," said Rod Martin, Vanguard PAC's founder and chairman. "Moreover, his tax panel's recommendations deserve further consideration, and contain a number of excellent ideas, including the abolition of the onerous Alternative Minimum Tax (AMT) which threatens to swallow most taxpayers within the decade and which we've fought now for several years.

"However, we are extremely concerned that the panel did so little in the way of eliminating taxes on savings and investment, did grave harm to American homeownership just as it reaches its all-time high, and did nothing whatsoever toward enacting a single, simple flat rate for all Americans. Additionally, the panel's stubborn refusal to use dynamic scoring -- as if changes in the tax code will not also change economic growth and behavior -- calls into question virtually every projection the panel makes.

"We will continue our fight for fundamental tax reform, and while we appreciate the panel's work, we feel they have fallen far short of the President's -- and the nation's -- hopes. Tinkering -- even positive tinkering -- is not enough to fix one of the worst tax systems on Earth, or to unleash the world-beating economic boom our system currently prevents."

Vanguard PAC is one of America's leading conservative grassroots groups, and particularly focuses on issues pertaining to economic liberty and the advance of freedom, at home and abroad.

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