    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book I)]
    [January 11, 2003]
    [Pages 46-47]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    January 11, 2003

        Good morning. As a new Congress convenes, we must take steps to
    speed up the economic recovery and to strengthen public confidence in
    the integrity of American corporations. This week in Chicago, I
    announced my growth-and-jobs plan, specific proposals to help workers,
    employers, and investors across America.
        For unemployed Americans whose benefits expired on December 28th, I
    asked Congress to act to extend those benefits. Congress did so quickly,
    and I signed the extension of unemployment benefits into law this week.
        For Americans who face the greatest difficulty finding work, I
    propose special reemployment accounts. These accounts will provide up to
    $3,000 to help pay for training, moving expenses, or other costs of
    finding a job.
        For all income-tax payers, I propose speeding up the tax cuts
    already approved by Congress, because Americans need that relief today.
    Instead of gradually reducing the marriage penalty between now and 2009,
    we should do it now. Instead of waiting until 2008 to move more
    taxpayers from the 15-percent bracket to the 10-percent bracket, we
    should make that change now. Instead of slowly raising the child credit
    to $1,000 by 2010, we should raise it now. When these changes are made,
    92 million Americans will keep an average of $1,083 more of their own
    money.
        And for America's 84 million investors and those who will become
    investors, I propose eliminating the double taxation on stock dividends.
    Double taxation is unfair and bad for our economy. It falls especially
    hard on seniors, many of whom rely on dividends for a steady source of
    income in their retirement. Abolishing double taxation of dividends will
    leave nearly 35 million Americans with more of their own money to spend
    and invest, which will promote savings and return as much as $20 billion
    this year to the private economy.
        Overall, my tax cut proposals will add nearly $59 billion to the
    economy in 2003 alone.
        Our Government is also acting to restore investor confidence in the
    integrity and honesty of corporate America. In response to the abuses of
    some corporations, we passed serious reforms, and we will vigorously
    enforce them. Our Corporate Fraud Task Force has obtained convictions or
    guilty pleas in over 50 cases. More than 160 defendants have been
    charged with criminal or civil wrongdoing. And 130 new corporate fraud
    investigations have been launched.
        In my budget for the coming year, I will also propose major
    increases in funding for the prosecutors of corporate crime. My 2004
    budget funding for the Securities and Exchange Commission will be 73
    percent higher than 2002 levels. This will allow the agency to hire
    hundreds of new accountants, lawyers, and examiners.
        I'm also requesting an extra $25 million for the Department of
    Justice to expand the corporate fraud investigations. This will allow
    the Department to create 118 new positions in the FBI, including 56
    agents. In addition, 94 new people will be hired to serve in the U.S.
    attorneys' offices and legal divisions across the Nation.

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        The SEC and Justice Department are the referees of corporate
    conduct. Under my budget, they will have every resource they need to
    enforce the laws that punish fraud and protect investors.
        I ask the Congress to support these enforcement measures and to pass
    my growth-and-jobs plan as soon as possible. Our country has made great
    progress in restoring investor confidence and putting the recession
    behind us. We cannot be satisfied, however, until every corporate
    wrongdoer is held to account, and every part of our economy is strong,
    and every person who wants to work can find a job.
        Thank you for listening.

    Note: The address was recorded at 10:45 a.m. on January 10 in the
    Cabinet Room at the White House for broadcast at 10:06 a.m. on January
    11. The transcript was made available by the Office of the Press
    Secretary on January 10 but was embargoed for release until the
    broadcast. The Office of the Press Secretary also released a Spanish
    language transcript of this address.