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January 6, 2005»

Moore Passes Torch to Toomey

Former PA Congressman to Lead Preeminent Pro-Economic Growth Advocacy Group

WASHINGTON, DC – The Club for Growth, the nation’s most influential organization dedicated to advancing economic growth policies, today announced that former Congressman Pat Toomey (R-PA) has agreed to serve as the group’s president.

“The Club for Growth has come a remarkably long way. Now that so many stars have been elected to Congress, I have decided to devote my energies over the next two years working to enact historic legislation on reforming Social Security, the tax code and the litigation system,” said Stephen Moore who helped found the group and served as its president from 1999 until his resignation this month. “There is no better person to whom I could be passing the torch on to for running the Club for Growth than Pat Toomey. He will do a spectacular job.”

Toomey was elected in 1998 to represent the 15th District of Pennsylvania in the U.S. House of Representatives and this month completed his third and final term. Toomey has been a recognized leader promoting economic growth and opportunity by reducing federal taxes, promoting American exports and lessening burdensome federal regulations. Toomey has been a strong voice for fiscal discipline and has frequently led efforts to reduce wasteful spending. He advocates modernizing Social Security by allowing younger workers to accumulate personally-owned savings. Prior to his service in Congress, Toomey spent fifteen years in business as an investment banker and small businessman.

This past election cycle, Toomey mounted a vigorous and nationally recognized U.S. Senate primary challenge to incumbent Republican Arlen Specter. Despite Specter’s four terms of seniority and enormous financial advantage, Toomey received more than 49 percent of the vote.

“Steve Moore has done a terrific job expanding the membership and influence of the Club for Growth and, in the process, he has helped increase economic freedom, opportunity and prosperity in our country. I look forward to building on an impressive record of success and I want to thank Steve and the members of the Club for Growth for this opportunity,” remarked Toomey, who will assume his full-time responsibilities this week.

David Keating will continue to serve as executive director.

“Our organization is very fortunate to have benefited from the talents and energy of Steve Moore, and he will be missed. Pat Toomey has established himself as one of the bright and rising stars of the economic growth movement, and he will make an exceptional leader of the Club for Growth,” remarked Richard Gilder, who serves as Chairman of the Board of the Club for Growth.

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