    [Public Papers of the Presidents of the United States: George W. Bush (2006, Book I)]
    [April 1, 2006]
    [Pages 640-641]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    April 1, 2006

        Good morning. As tax day approaches later this month, many American
    families are now finishing their tax returns. And as you do, an
    important debate is taking place in Washington that will affect the
    amount you will pay in the years ahead.
        I believe our economy grows when you're allowed to keep more of your
    hard-earned money and make your own decisions about how to save, spend,
    and invest. So, working with Congress, we've provided tax relief for all
    Americans who pay income taxes. We lowered tax rates to let workers keep
    more of their paychecks. We doubled the child tax credit and reduced the
    marriage penalty, and we put the death tax on the road to extinction. We
    also cut taxes on dividends and capital gains and expanded incentives
    for small businesses to invest so they could grow and create new jobs.
        Since 2001, the tax relief we delivered has left $880 billion in the
    hands of American workers and small businesses and families like yours,
    and you've used that money to help produce more than 4 years of
    uninterrupted economic growth. Last year, our economy grew at a healthy
    3.5 percent, faster than any other major industrialized nation.
        One politician in Washington said in 2003
    that our tax cuts were ``ruining our economy and costing us jobs.'' The
    truth is that since August 2003, America has added almost 5 million new
    jobs. Our unemployment rate is now 4.8 percent--lower than the average
    of the 1970s, 1980s, and 1990s. Real after-tax income is up 8 percent
    per person since the beginning of 2001. More Americans now own their own
    homes than at any time in our history, and minority homeownership is at
    record levels. Consumer confidence is at its highest level in nearly 4
    years. Productivity has grown strongly over the past 5 years, and our
    small-business sector is thriving.
        The evidence is overwhelming; the opponents of tax cuts were wrong.
    Tax relief has helped to create jobs and opportunities for American
    families, and it's helped our economy grow. By maintaining our progrowth
    economic policies and practicing spending restraint in Washington, we
    can keep our economy growing and stay on track to meet our goal of
    cutting the budget deficit in half by 2009.
        The problem is that the tax relief we passed is set to expire over
    the next few years. Some Democrats in Washington are insisting that we
    let that happen--or even repeal the tax cuts now. In either case, that
    would weaken our economy and would leave American families with a big
    tax hike that they do not expect and will not welcome. Because America
    needs more than a temporary economic expansion, we need more than
    temporary tax relief. To keep our economy growing, to keep our
    businesses investing, and to keep creating jobs, we need to ensure that
    you keep more of what you earn. So Congress needs to make the tax relief
    permanent.
        Making tax relief permanent includes extending the tax cuts on
    dividends and capital gains. These tax cuts have been vital to our
    economic growth. By lowering the cost of capital, this tax relief has
    given businesses an incentive to invest and expand, and that has helped
    create jobs and opportunity. I urge the Congress to extend these
    progrowth tax cuts, so our businesses can plan with confidence and keep
    creating jobs for American workers.
        The debate in Congress over taxes ultimately comes down to this: Who
    knows best how to use your money, politicians in Washington or you? I
    believe the money we spend in Washington is your money, not the
    Government's money. I trust you

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    to make the best decisions about what to do with your hard-earned
    dollars, because when you do, your family is better off, our economy
    grows, and prosperity and opportunity spread throughout our great land.
        Thank you for listening.

    Note: The address was recorded at 9:15 a.m. on March 31 at the LeBlanc
    Spa and Resort in Cancun, Mexico, for broadcast at 10:06 a.m. on April
    1. The transcript was made available by the Office of the Press
    Secretary on March 31 but was embargoed for release until the broadcast.
    The Office of the Press Secretary also released a Spanish language
    transcript of this address.