May 28, 1981

The administration as of this hour has received only secondhand reports on the Democratic caucus this afternoon. Treasury Secretary Regan looks forward to a more complete, firsthand report from Chairman Rostenkowski in the near future.

In the meantime, President Reagan's position remains firm: Across-the-board, multiyear tax cuts are just as essential to economic recovery as across-the-board, multiyear budget cuts. The President remains hopeful that a bipartisan coalition can be built in Congress to give the American people the tax cuts that they so clearly need, want, and deserve.