WASHINGTON, Nov 4 (AFP) - US President George W. Bush said Thursday he would re-write the tax system to make it simpler but promised not to sneak in a tax increase.
Tax reform would be "revenue neutral," he told a news conference.
"If there was a need to raise taxes, I would say, 'Let's have a tax bill that raises taxes,' as opposed to, 'Let's simplify the tax code and sneak a tax increase on the people,'" Bush said.
"That's not my style. I don't believe we need to raise taxes. I've said that to the American people. The simplification would be the goal. Secondly, that obviously that it rewards risk and doesn't have unnecessary penalty penalties in it."
The main priorities would be to create a system that was fair, simple and without loopholes for special interests, Bush said.
The tax code should be viewed "as a fair way to encourage people to invest and save and achieve certain fiscal objectives in our country as well," the US leader added.
It should include incentives for charitable donations and mortgage payments, he said.
Bush did not issue a call for Congress to make his nearly 1.9 trillion dollars in tax cuts permanent, a request he had repeated in speeches during the election campaign.
Bush passed tax cuts worth 1.35 trillion dollars in 2001 and another 350 billion dollars in 2003.
All the tax cuts expire by the end of 2010. Some expire earlier, such as a dividend tax cut, which is due to evaporate at the end of 2008.
Last month, he signed a law doling out corporate tax breaks worth another 146 billion dollars.
The total approaches 1.9 trillion dollars.
11/04/2004 17:14 GMT - AFP