    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book I)]
    [May 10, 2003]
    [Pages 462-463]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    May 10, 2003

        Good morning. This week with a vote in the House of Representatives,
    Congress took a positive step towards passage of my jobs-and-growth
    proposal. The plan I submitted would create more than a million jobs by
    the end of next year through immediate tax relief for American families
    and businesses.
        Since I sent my plan to Congress in January, the need for action on
    the economy has become even more urgent. The unemployment rate last
    month reached 6 percent, as many employers continue to hold back on the
    kinds of investments that lead to new jobs. The bill that passed the
    House of Representatives this week includes all the elements of my plan:
    cuts in income-tax rates this year; reduction of the marriage penalty;
    an increase in the child credit from $600 to $1,000; an increase in the
    expensing provision for small-business investment in new equipment; and
    action to reduce the double taxation of dividend income.
        These reforms would bring immediate help throughout our economy.
    They would leave more money in the hands of families who need it to make
    purchases and to pay the bills. And this tax relief would give employers
    greater incentives and resources to invest in new equipment. The result
    will be more jobs, and that is our goal.
        We are also making progress on passing tax relief in the Senate. The
    Senate Finance Committee has approved legislation

    [[Page 463]]

    that includes important aspects of my proposal. I urge the Senate to
    complete its work next week so the House and Senate can work out their
    different versions and get a tax relief bill to my desk as soon as
    possible.
        This week's progress demonstrates that both Houses of Congress and
    both political parties agree that tax relief will help this economy. Now
    the discussion is about how much tax relief the American people need and
    deserve. We need at least $550 billion in tax relief over the next
    decade, big enough to make a real difference in the paychecks of
    American workers, big enough to help entrepreneurs create more jobs, and
    big enough to give our economy the boost it needs.
        This past week, I met a small-business owner named Luke
    Brindley. Luke and his family started their
    Virginia business less than 2 years ago with 5 employees, and now
    they're up to 25. Here's what Luke says: ``Any break we get encourages
    us to hire more people and buy more equipment.''
        Next week, I will travel to New Mexico, Nebraska, and Indiana to
    address the Nation's hard-working small-business owners, families, and
    investors. My message to them will be simple: The surest way to grow
    this economy and create jobs is to leave more money in the hands of the
    people who earn it.
        I urge every citizen to participate in this important debate and to
    make your voice heard. Explain to your local representative or your
    Senators what tax relief would mean to your family and your business,
    and please tell the members of Congress why our economy needs that
    relief now.
        Thank you for listening.

    Note: The address was recorded at 11:02 a.m. on May 9 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on May 10. The
    transcript was made available by the Office of the Press Secretary on
    May 9 but was embargoed for release until the broadcast. The Office of
    the Press Secretary also released a Spanish language transcript of this
    address.