    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book I)]
    [April 15, 2003]
    [Pages 343-347]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks Following a Discussion With Business Leaders
    April 15, 2003

        Christine, thanks for the kind
    words. Thank you for being a entrepreneur who was encouraging to your
    fellow workers to serve their country. You represent a lot of bosses
    across this country who encouraged the reservist or the guard, who made
    sure there was a job available when they came home and, at the same
    time, supported their family. And I want to thank you very much for
    that.
        I want to welcome you all to the Rose Garden. It is a beautiful day.
    It's a beautiful day for our country too. We've got troops still
    fighting in Iraq, and our Nation takes great pride in the men and women
    who wear our country's uniform and who sacrifice for security and peace.
    The world has seen their skill and their courage and their humanity.
    They bring security to our country and, at the same time, bring freedom
    to the Iraqi people.
        I appreciate the chance to meet with small-business leaders from
    around our country to discuss the challenges facing our economy. The
    small-business folks in America, the entrepreneurs, represent one of the
    great strengths of this country, the spirit of free enterprise, the
    willingness to take risk, the hard work required to move this economy
    forward.
        Small-business owners and employees understand that this economy has
    a great deal of unmet potential. The American people have all the talent
    to meet that potential, and that's why I'm so optimistic about the
    future for our economy.
        The Nation needs quick action by our Congress on a progrowth
    economic package. We need tax relief totaling at least $550 billion to
    make sure our economy grows. And American workers and American
    businesses need every bit of that relief now so that people who want to
    find a job can find one, so that people looking for work are able to put
    food on the table for their families.
        I want to thank Christine for
    coming. I appreciate the fact that she is the CEO of her own business.
    We just had a roundtable discussion in the Roosevelt Room, and one of
    the things I love--told the folks there I loved about America was the
    fact that somebody can own their own business, that ours is an ownership
    society. I think that's one of the things that makes America so unique,
    is the entrepreneurial spirit and

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    the drive by people from all walks of life to start their own business,
    succeed with their own business. And at the same time, it's that drive
    that makes it likely somebody is going to find work.
        I appreciate Karla Aaron, who's with us as
    well, Hialeah Metal Spinning from South Florida. And I want to thank Tim
    Barrett, who is the owner of Wood World. Tim
    said he's got--he's about as small a business unit as you can get. He's
    got four employees. I said, ``Well, it's four times bigger than the
    smallest.'' [Laughter] And I appreciate Frank Fillmore  Jr. as the president of The Fillmore Group. Thank you all
    for standing up here as well.
        Steve Anderson was with us today, who
    is the head of the National Restaurant Association. His association
    represents all kinds of entrepreneurs. The restaurant industry is a
    great place for people to get their start in achieving the American
    Dream.
        Sal Gomez was here representing the
    Denver Hispanic Chamber of Commerce. The most interesting statistics
    about the entrepreneurial spirit is the number of Hispanic small
    businesses that are flourishing in our country. It's one of the great
    tributes to America and our open society.
        I appreciate so very much Tom Donohue,
    who is the head of the U.S. Chamber, for joining us today. Jerry
    Jasinowski is the head of the National
    Association of Manufacturers, is with us. Karen Kerrigan is the Small
    Business Survival Committee--that's a pretty good name. [Laughter] Tom
    Musser is the National Federation of Independent
    Businesses, NFIB. And Terry Neese is Women
    Impacting Public Policy, joined us at our discussion in the Roosevelt
    Room; Bill Parsley of Carswell Distributing
    Company; Dirk Van Dongen,
    who represents the Small Business Administration. We had a great
    discussion. I want to thank you all for joining us there, and I
    appreciate everybody else coming today as well.
        On the first day of the new Congress more than 3 months ago, I spoke
    to the business leaders in Chicago, Illinois. I described two great and
    immediate tasks facing our country: first, to meet the dangers to
    America wherever they gather; and secondly, to achieve a vigorous and
    growing economy. Those remain the highest priorities of my
    administration, and there's no doubt we're going to meet those
    priorities.
        This Government is acting to protect the American people from the
    threats of a new era. In Iraq, the regime of Saddam Hussein is no more. A month ago--one month ago--that country
    was a prison to its people, a haven for terrorists, an arsenal of
    weapons that endangered the world. Today, the world is safer. The
    terrorists have lost an ally. The Iraqi people are regaining control of
    their own destiny. These are good days in the history of freedom.
        Our victory in Iraq is certain, but it is not complete. Centralized
    power of the dictator has ended. Yet, in parts of Iraq, desperate and
    dangerous elements remain. Forces of our coalition will engage these
    enemies until they surrender or until they're destroyed. We have waged
    this war with determination and with clarity of purpose, and we will see
    it through until the job is done.
        As we press on to liberate every corner of Iraq, we are beginning
    the difficult work of helping Iraqis to build a free and stable country.
    The immediate tasks involve establishing order as well as delivering
    food and water and medicines. We'll help Iraqis to restore electrical
    power and other basic services. We'll help destroy the former regime's
    weapons of mass destruction. We'll help the Iraqi people to establish a
    just and representative government which respects human rights and
    adheres to the rule of law. These tasks will take effort, and these
    tasks will take time. But I have faith in the Iraqi people, and I
    believe that a

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    free Iraq can be an example of reform and progress to all the Middle
    East.
        Our victory in Iraq will be a crucial advance in the war against
    terror. Yet, the war on terror continues. Our Nation is still threatened
    by determined and resourceful enemies. The proliferation of weapons of
    mass destruction remains a danger to the civilized world. Yet from the
    very day our country was attacked, we have sent a clear message to all
    who would threaten us and our friends and our allies: The United States
    of America and our coalition will defend ourselves. When we make a
    pledge, we mean it. We keep our word, and what we begin, we will finish.
        Another great priority of the Government is to encourage prosperity
    and the creation of jobs for all who seek them. Here in Washington,
    we're now determining the size and the shape of a package to promote
    growth in jobs. It's not ``if'' we have a package; it's, ``How big will
    the package be?'' The ``if'' is over with. In this debate, the goal is
    not to set arbitrary numbers for that package. The goal is to determine
    what our economy needs, what small businesses need, what workers need,
    and then to take actions necessary to meet those needs. The proposals I
    announced 3 months ago were designed to address specific weaknesses
    slowing down our economy and keeping companies from hiring new workers.
    Those weaknesses remain today.
        All of you know that economic and job growth will come when
    consumers buy more goods and services from businesses such as your own.
    And the best and fairest way to make sure Americans can do that is to
    grant them immediate tax relief so they have more of their own money to
    spend or save.
        In 2001, the Congress passed broad tax reductions in income taxes
    and promised much of this tax relief for future years. With the economy
    as it is, the American people need that relief right away. The tax cuts
    are good enough for the American taxpayers 3 or 5 or 7 years from now;
    they are even better today.
        Instead of lowering taxes little by little, the Congress should do
    it all at once and give our economy the boost it needs. Instead of
    gradually reducing the marriage penalty, we should do it now. Instead of
    slowly raising the child credit from $600 to $1,000, we should do it
    now. And we should send the extra $400 per child to American families
    this year, 2003.
        All together, these tax reductions will help 92 million Americans.
    And a significant part of the benefit to our economy will come within
    the first 2 years of the plan. A family of four with an income of
    $40,000 would receive a 96-percent reduction in Federal income taxes.
    Instead of paying $1,178 per year, the family would pay $45 a year. That
    means extra money in the family budget, year after year. That money can
    cover a lot of bills. That money can help families with purchases they
    have been delaying. That money will be in circulation, which will be
    good for our economy.
        And this plan will help our small-business sector. The benefits of
    the growth plan will come from increased consumer spending and, as
    importantly, from lower income-tax rates on the small businesses
    themselves. It is important for our fellow citizens to understand that
    most small businesses pay their business taxes at the individual rates.
    Most small businesses are sole proprietorships or limited partnerships
    or Subchapter S's.
        And therefore, when you reduce individual tax rates, you benefit
    small-business formation. As a matter of fact, under this plan, some 23
    million small-business owners will see their taxes cut, which leaves
    more money for investment, more money for growth, more money for job
    creation. A growing economy also needs small-business investment, and
    our Tax Code should encourage investment. Today, a small business can
    deduct a maximum of $25,000 in the year in which they buy equipment. We

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    need to triple the amount that can be deducted in the year in which they
    buy equipment.
        So I proposed to Congress that they ought to limit--the limit ought
    to be increased to $75,000, and that limit ought to be indexed to
    inflation. By doing so, we promote greater investment in machinery, and
    when a small business buys a machine, it enhances their company's
    productivity. As well, it means the machinery manufacturer is likely to
    have more work available. More investment equals jobs, and what we're
    interested in in this administration is helping people who look for work
    find a job.
        We can also promote economic growth and job creation by removing the
    double tax on dividends. Taxing corporate income once is fair. It is not
    fair for the Federal Government to tax the same money twice. The burden
    of double taxation falls on the millions of individuals who receive
    dividends. It falls especially hard on seniors, who receive half of all
    dividend income.
        The removal of double taxation would put more money into the hands
    of investors; it would encourage more investment in American businesses.
    Economists say that this plan will help our stock markets. And since
    half of American families own stock, the reform will help them save and
    help our economy grow.
        Now, these measures were presented to the Congress in the first week
    of this year. The progrowth package was urgent in January. It's even
    more urgent today. It is important for you all to understand and for our
    fellow Americans to understand, the tax relief I have proposed and will
    push for until enacted will create 1.4 million new jobs by the end of
    2004.
        In 2 years' time, this Nation has experienced war, a recession, and
    a national emergency, which has caused our Government to run a deficit.
    The best way to reduce the deficit is with more growth in our economy,
    which means more revenues to our Treasury and less spending in
    Washington, DC.
        I am pleased that both the House and the Senate have passed budget
    resolutions that show real spending restraint. And now the Congress must
    focus on a robust and effective growth package. We need at least $550
    billion in that package because the more tax relief that goes to the
    American people, the more jobs we will create in this economy.
        The last few months have been a time of challenge for America. Our
    resolve has been tested. Yet, we have the great resources of national
    strength and national character to overcome every challenge we face. Our
    confidence and our optimism have never wavered. We are defending the
    peace of the world. We're bringing freedom to corners of the world that
    haven't seen freedom in years. We're also building the prosperity of our
    country.
        This is a unique moment in our history, and the American people are
    rising to meet it.
        I want to thank each of you for your hard work. I want to thank each
    of you for the faith you have shown in this country's future. May God
    bless you, and may God continue to bless America. Thank you all.

    Note: The President spoke at 11:16 a.m. in the Rose Garden at the White
    House. In his remarks, he referred to Christine J. Bierman, founder and
    chief executive officer, Colt Safety, Fire & Rescue; Karla Aaron, owner,
    Hialeah Metal Spinning, Inc.; Tim Barrett, owner, Wood World; Frank C.
    Fillmore, Jr., founder and president, The Fillmore Group; Steven C.
    Anderson, president and chief executive officer, National Restaurant
    Association; Salvador Gomez, chairman of the board and chief executive
    officer, Denver Hispanic Chamber of Commerce; Thomas J. Donohue,
    president and chief executive officer, U.S. Chamber of Commerce; Jerry
    Jasinowski, president, National Association of Manufacturers; Karen
    Kerrigan, chairman,

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    Small Business Survival Committee; Tom Musser, chairman of the board,
    National Federation of Independent Business; Terry Neese, president and
    cofounder, Women Impacting Public Policy; William Parsley, president,
    Carswell Distributing Co.; Dirk Van Dongen, president, National
    Association of Wholesaler-Distributors; and former President Saddam
    Hussein of Iraq. The Office of the Press Secretary also released a
    Spanish language transcript of these remarks.