Senator Gramm,

I expect you have already considered these:
1.  Rebate surpluses out of the Airline trust fund that is a collection of
taxes on airline tickets.  This in addition to stopping the taxes would
provide needed liquidity to the airlines.

2.  Accelerate depreciation, perhaps to two or three years, on all capital
goods purchased before March 31, 2001.  This would provide a very strong
incentive for capital investment immediately.

3.  Defer all corporate taxes due for the next six months and make them
payable, with interest equal to AFR, over the next two years.  This would
effectively put the government in the position of lending to corporations at
the federal government's borrowing rate.  The net effect over two years is
neutral, except for potential defaults, but the fiscal impact is
significant.

Good Luck, we need more public officials of your ilk up there.  Sorry that
you won't be there much longer.

Regards,
Mark

Mark Lay
713-552-9518

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