    [Public Papers of the Presidents of the United States: George W. Bush (2002, Book II)]
    [November 19, 2002]
    [Pages 2121-2122]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Message to the Congress Transmitting a Report on Small Business
    November 19, 2002

    To the Congress of the United States:
        This report documents the state of small business at the end of the
    20th century. Small businesses have always been the backbone of our
    economy. They perennially account for most innovation and job creation.
    Small businesses have sustained the economy when it is robust and
    growing as well as in weaker times when small businesses have put the
    economy back on the track to long-term growth.
        We must work together to give small businesses an environment in
    which they can thrive. Small businesses are disproportionately affected
    by Government regulations and paperwork, and I am committed to reducing
    this burden. We should regulate only where there is a real need, fully
    justified through rigorous cost-benefit analysis and clear legal
    authority. And when Government must regulate, it must adopt commonsense
    approaches. Regulations work best when agencies anticipate and analyze
    the effects of their proposals on small firms. Rules need to reflect the
    ability of small businesses to comply.
        Another barrier to unleashing the full potential of small business
    is our tax code. I am committed to reducing taxes for all Americans--
    especially small businesses. We must eliminate permanently the estate
    tax, which so often has spelled the death of the business and the jobs
    of its employees after the death of its founder. Our tax code should
    encourage investment in small businesses, and particularly in new and
    growing businesses. Because the innovations that drive tomorrow's
    economy come from entrepreneurial small businesses today, we must help
    them enter the marketplace, not impede them before they get there. Above
    all, small businesses need a tax code that is understandable and stable.
    Fairness, simplicity, transparency, and accountability

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    should be our goals, and I am committed to this end.
        Small business embodies so much of what America is all about. Self-
    reliance, hard work, innovation, the courage to take risks for future
    growth: these are values that have served our Nation well since its very
    beginning. They are values to be passed on from generation to
    generation. We must ensure that our small businesses continue to thrive
    and prosper, not just for their own sakes, but for all of us.

                                                              George W. Bush

     The White House,

     November 19, 2002.

    Note: This message was released by the Office of the Press Secretary on
    November 25.