Speaking about a potential run for the presidency and criticizing government regulations, Sen. Kay Bailey Hutchison (R-Texas) yesterday met with student leaders and delivered a speech at the Institute of Politics.

During a morning press conference, Hutchison, who is widely expected to seek a second full term in the Senate in 2000, told reporters she is also keeping her options open for a White House run sometime in the near future.

"I may run for president," she said, not indicating how seriously she is considering the idea.

However, with popular governor and fellow Texan George W. Bush an early favorite for the 2000 Republican nomination, Hutchison may have to wait her turn.

She rejected the idea of running as a vice presidential candidate in 2000, though she was on Bob Dole's short list of running mates in 1996.

"I think you run for president because you think you can do something that makes our country better...I think the person running for vice president is very important, but I don't have an interest in it," she said.

Hutchison shifted her focus in the afternoon, taking aim at government regulations in a speech before an audience of approximately 60.

In the speech, titled "Washington vs. Freedom: Why We Will Win," Hutchinson said excessive taxation and government regulations are dampening the nation's entrepreneurial spirit.

"When Congress meets, so many times they areslowing the economic engine of growth," she said.

Hutchinson also argued against the currentsystem of distribution of wealth through taxation,and praised former president Ronald Reagan forbelieving wealth should be denied to no one.

"I don't think we should go down the path oftaking from people who have worked hard and donewell and give it to people who are less willing totake a risk," she said.

Hutchison said the United States has reachedits geographic and economic frontiers because ofrisk-takers. She said the successful risks somehave pursued have provided wealth for many.

"I am glad there is a Bill Gates. I am gladthere is a Michael Dell," she said. "They createda lot of jobs. They have created a lot ofmillionaires."

According to Hutchison, tax laws punishcitizens in the upper tax brackets.

She said many tax credits and IRA reforms onlyapply to those earning little money, favoring onesegment of society over another.

"There is a principle that underlies all ofthese policies," Hutchison said, "and it is theprinciple that it is okay to succeed in America aslong as you don't succeed too much."