[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

[[Page 109]]

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.