    [Public Papers of the Presidents of the United States: George W. Bush (2008, Book I)]
    [January 24, 2008]
    [Pages 108-109]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on a Bipartisan Economic Growth Agreement
    January 24, 2008

        This morning my administration reached an agreement with Speaker
    Pelosi and Minority Leader Boehner on an economic growth package. And, Mr.
    Secretary, thank you for handling
    negotiations, and appreciate your hard work.
        This agreement was the result of intensive discussions and many
    phone calls, late-night meetings, and the kind of cooperation that some
    predicted was not possible herein Washington. It also required patience,
    determination, and good will. I thank the Speaker and I thank Leader Boehner
    for their hard work and for their leadership and for showing the
    American people that we can come together to help our Nation deal with
    difficult economic challenges.
        I am pleased that this agreement meets the criterion that I set
    forth last week to provide an effective, robust, and temporary

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    set of incentives that will boost our economy and encourage job
    creation. This package has the right set of policies and is the right
    size. The incentives in this package will lead to higher consumer
    spending and increased business investment this year. Importantly, this
    package recognizes that lowering taxes is a powerful and efficient way
    to help consumers and businesses. I have always believed that allowing
    people to keep more of their own money and to use it as they see fit is
    the best way to help our economy grow.
        I'm also pleased that this agreement does not include any tax
    increases as well as unnecessary spending projects that would have
    little immediate impact on our economy.
        I know Americans are concerned about our economic future. Our
    economy is structurally sound, but it is dealing with short-term
    disruptions in the housing market and the impact of higher energy
    prices. These challenges are slowing growth. Yet Americans can also be
    confident about our long-term outlook. Our economy is strong, it is
    dynamic, and it is resilient. It has led the world for many decades, and
    with the right policies in place, including the extension of the tax
    cuts passed in 2001 and 2003 that have helped our economy, I firmly
    believe we're going to continue to lead the world.
        Because the country needs this boost to the economy now, I urge the
    House and the Senate to enact this economic growth agreement into law as
    soon as possible. We have an opportunity to come together and take the
    swift, decisive action our economy urgently needs.
        Secretary Paulson is here to
    answer any of your questions. At my request, he has taken the lead in
    negotiations, like I mentioned, and I--you did a superb job, Mr.
    Secretary. Thank you very much.

    Note: The President spoke at 2:31 p.m. in the James S. Brady Press
    Briefing Room at the White House.