Distrust in 2015’s Fast Track is Rooted in Violated Expectations of 2002’s Fast Track

Hugh J. Campbell Son of a steelworker, Philadelphia, Pa.

The following benefits (expectations) regarding 2002’s Fast Track were touted by Americans for Tax Reform (ATR) in its “Trade Vote is the Biggest Tax Cut of the Next Decade” posting, less than four months after 9/11, but they failed to materialize big time:

  • Much-anticipated economic stimulus package
  • Strike agreements that have broad political and public support, and are not tailored to special interests requests
  • Create millions of jobs
  • Boost the financial markets
  • Secure democratic governments throughout the Western Hemisphere
  • Reduce the pressures of mass immigration
  • Give the President a powerful tool to reward those nations who support us in the fight against terrorism and punish those who are slow to aid us

ATF’s claim that that 2002 Fast Track would result in the biggest tax cut of the next decade is not challenged. Unfortunately, because it was the biggest tax cut, it exacerbated both the U.S. budget deficits and resulting fiscal cliff issues.

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Hugh Campbell is a seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. Hugh has previously held positions as Chief Risk Officer (CRO), Chief Audit Executive (CAE) and Director of Sarbanes-Oxley (SOX) Compliance.

Posted In: Union Matters

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