    [Public Papers of the Presidents of the United States: George W. Bush (2005, Book II)]
    [December 21, 2005]
    [Pages 1895-1897]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on Signing the Gulf Opportunity Zone Act of 2005
    December 21, 2005

        Thanks for coming. In a few moments, I will sign the Gulf
    Opportunity Zone Act of 2005. This important bill will help the citizens
    of the gulf coast continue to put their lives back together and rebuild
    their communities in the wake of the devastating hurricanes that hit the
    region earlier this year.
        I want to thank the Members of Congress who have joined us here, and
    those who haven't joined us here, for passing this important piece of
    legislation. I want to thank Trent Lott from
    Mississippi for being here. Trent Lott invited me one time to his home,
    right there on the gulf coast of Mississippi. It no longer exists. He
    knows firsthand what it means to live through one of these devastating
    storms, and I appreciate you, Senator, for being here.
        I want to thank Congressmen Jim McCrery of Louisiana and Bill Jefferson of Louisiana. Both these Members have

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    worked very hard for the people of the great State of Louisiana with
    Congress to put a package together to help the people of Louisiana and
    Mississippi get back up on their feet.
        I want to thank Max Baucus. He's not
    from the gulf coast area of America. He's from Montana, but he cares. He
    is ranking member of the Finance Committee, and it's kind for you to be
    here.
        I want to thank members of my Cabinet who have joined us here today,
    Elaine Chao and Alphonso Jackson, Mike Chertoff.
        And finally, I want to thank my friend Don Powell, who is the Federal Coordinator for the gulf coast
    rebuilding effort. His job is to represent the administration there as
    he interfaces with State and local officials. I want to thank you, Don,
    for taking on this assignment.
        When I spoke to the Nation from Jackson Square in New Orleans, I
    said our job and our goal for the gulf coast was not just to survive but
    to thrive, and not just to cope but to overcome. And I meant it. And
    we're now implementing a comprehensive plan to help the people of the
    region recover and rebuild. We've helped a lot of people get temporary
    housing. We're now in the process of helping them to transition to
    permanent homes. Helping people find housing is going to be one of the
    really important challenges that we all face together in order to help
    these areas rebuild.
        We're working to assist the school districts that have taken in
    students from the affected areas. There's a lot of school districts
    around our country that said, ``We want to help. Let us educate the
    children of those who evacuated,'' and now we're helping to rebuild
    them.
        We're also helping rebuild the schools in the affected regions. Last
    week, we announced our plan to strengthen the levee system in New
    Orleans. And in the last 24 hours, I extended full Federal coverage of
    the cost of debris removal for Louisiana and Mississippi. We want to get
    the debris out of the way. I can't imagine anything more discouraging
    then to continue to see the piles--and I mean, literally, piles--of
    debris. And the sooner we can get that debris removed and disposed of,
    the more hopeful people will become.
        Today I'm going to sign the Gulf Opportunity Zone Act of 2005. It's
    a step forward to fulfill this country's commitment to help rebuild.
    It's going to help small businesses, is what it's going to do. For small
    businesses in the affected area, the GO Zone will double expensing for
    investments in new equipment from $100,000 to $200,000.
        The bill also provides a 50-percent bonus depreciation, and that
    means tax relief for small businesses that--and businesses that purchase
    new equipment and build new structures. In other words, this tax act
    provides incentives for people to move forward. And as these businesses
    move forward, they're going to need to employ people. So this is a tax
    bill that has got employment consequences to it. This is going to help
    the entrepreneurs of Louisiana and Mississippi and Alabama.
    Entrepreneurship creates opportunity, which creates jobs.
        This is just part of our plan to help the people get back to work.
    We've got to help workers get the skills they need. I just met with a
    group of concerned citizens from business and labor and education, all
    aspects of society. Again, I want to thank you all for being there.
    We're talking about how to help put together a strategy that takes
    advantage of the jobs that are going to be created down there to make
    sure there's a skill set match. We've got a lot of people that want to
    work, and yet they may not all be electricians or plumbers. And so one
    of the real challenges and opportunities we have is to match willing
    worker with jobs which will actually exist. And that's what we're
    talking about and strategizing about.
        And again, I want to thank you all very much. This is the private
    sector and public sector working in close coordination. Don

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    Powell is going to help put together a
    strategy that will be, one, it's easy to understand; and two, that will
    have moments that we'll be able to measure whether or not we're making
    progress.
        The GO Zone Act does a couple of other things. It increases funding
    for Hope Scholarships and lifetime learning credits for students
    attending colleges and graduate students in the--and graduate schools in
    the Gulf Opportunity Zone. It's going to make continuing education for
    workers more accessible and help support high school training that these
    gulf coast residents are going to need to fill the jobs which are
    actually going to be existing.
        By the way, in a year from now, we're going to be talking about,
    ``What are we going to do about all these jobs, and who's going to fill
    them?'' As a matter of fact, there's a job shortage already down there.
    And again, I repeat to you, this provides a great opportunity to make
    sure that the folks in Mississippi and Louisiana who--can find work. And
    those are the folks we want to be first in line, by the way. If you're
    from New Orleans, Louisiana, we want you to be the first person to get
    the job. And what I'm telling you is we're going to work to make sure
    housing is available for you and that there's a training center or
    training program that will help you meet your--match your desire to work
    with the jobs which actually exist.
        If you're from Mississippi, we want those new jobs to go to
    Mississippi residents, and we want to help the Mississippi community
    college, for example, to become a vital training center for the jobs
    which are going to be needed to help this important part of our country
    get back up on its feet.
        The Senate passed a deficit reduction bill that's going to provide
    $2 billion to help States pay for critical medical care for those
    evacuees who need it. That's important. The defense appropriations bill
    that the Senate is now considering--and I hope passes--would help repair
    damaged transportation infrastructure and provide important Federal
    funding for New Orleans to rebuild the levees and correct any design and
    construction flaws of those levees. These bills are important for the
    future of the gulf coast.
        DOD bill is really important, as the good Senator will tell you. This time of year, Americans, we give
    our thanks for the many blessings we have. We renew our commitment to
    help those who are in need. We are going to continue to work together to
    build a better future for the people of the gulf coast. And the bill I'm
    about to sign is going to make a difference. It's an important piece of
    legislation. It's part of our strategy to accomplish an important
    national goal, and that is a revitalized gulf coast and a New Orleans
    that is a shining example of what America can do when it puts its mind
    to something.
        So again, thank you all for coming. Now, my honor to sign the bill.

    Note: The President spoke at 3:07 p.m. in Room 350 of the Dwight D.
    Eisenhower Executive Office Building. H.R. 4440, approved December 21,
    was assigned Public Law No. 109-135.