In an address before a conference of Independent Community Bankers of America, Treasury Secretary Paul O'Neill said on Monday that the Bush administration plans to use future tax bills to accelerate the phase-in of the $1.35 trillion tax breaks that passed the Senate on Wednesday, including income tax cuts and the estate tax phase-out. 

"I think it is a sure thing that we are going to have estate tax repeal, not just reform," O'Neill said. "But I think none of us are going to be satisfied with this delayed phase-in of the plan. In subsequent time, after we demonstrate how we have generated more income than the forecasters are willing to include at the moment, we need to then revisit the question of how fast we can phase some of these things in."

The tax cuts passed the Senate on Wednesday after Democrats forced vote after vote on amendments to delay the bill's passage. The final Senate vote was 62 to 38, with 12 Democrats joining all 50 Republicans in support. 

But before the bill can be sent to President Bush for his approval, the House and Senate will have to work out the differences between their versions of the tax cuts. Most notably, the House's cuts included phase-out of the gift taxes while the Senate's did not. President Bush urged Congress to get him the bill by Friday.