[Congressional Record Volume 150, Number 29 (Tuesday, March 9, 2004)]
[House]
[Page H880]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         ECONOMIC JOBS AND GROWTH PLAN IS WORKING FOR AMERICANS

  (Mr. WELLER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WELLER. Mr. Speaker, we have some great challenges before our 
country in today's world; and one of them, of course, is moving our 
economy forward.
  I am pleased to report to the House that the Economic Jobs and Growth 
Plan that was signed into law by President Bush in May of last year is 
working. We have seen some real benefits as a result of that Jobs and 
Economic Growth Plan, plans that cut taxes for every American, 
eliminated the marriage tax penalty, doubled the child tax credit, and 
also provided incentives for investment.
  As a result of the President's plan that was passed into law by this 
Congress, we have seen a generation of well over 300,000 new jobs just 
in the last few months. I would also report that as a result of the 
bonus depreciation, the extra 50 percent that businesses can use for 
deducting the cost of buying a company car or an office computer or 
telecommunications equipment, a machine tool that, as a result of that 
bonus depreciation, we have now seen the highest level ever of 
investment by the private sector, by business, and capital assets, cars 
and trucks, machine tools, computers. When we encourage a business to 
buy a new company car, to buy a machine tool, to buy telecommunications 
equipment, to buy other types of equipment, that creates jobs.
  The President's plan is working.

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