[Weekly Compilation of Presidential Documents Volume 38, Number 16 (Monday, April 22, 2002)]
[Page 627]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

April 13, 2002

    Good morning. Monday is tax day, and this year tax day will be 
different. This year your tax rates are lower, and you will keep more of 
your hard-earned money to spend or save as you see fit.
    Last year I signed a tax relief bill that will continue to reduce 
Federal taxes by more than a trillion dollars over the next 10 years. 
Relief began almost immediately. Single taxpayers received checks for up 
to $300. Single parent taxpayers received up to $500. And married 
couples received up to $600. By now, American taxpayers have already 
benefited from $57 billion in tax relief.
    Yet, when it comes to tax relief, once is not enough. So the best 
news is that tax relief is continuing this year. The child credit was 
increased to $600 and made available to lower income Americans. For a 
single mom with two kids making $18,000, this one change alone provides 
$800 in tax relief. We're beginning a new low 10-percent bracket this 
year. We're making it easier for low-income workers to take their first 
steps up the ladder of opportunity. And starting this year, you will be 
able to save more of your money, tax free, whether in an education 
savings account, an IRA, or a 401(k).
    Tax relief helps the working people of our country with more money 
to provide for their families and pay their bills. And perhaps the best 
news of all is that even more relief is on the way for many years to 
come.
    The tax bill will continue to increase the child credit up to $1,000 
per child by the year 2010. The marriage tax will be reduced. And the 
unfair death tax will be completely abolished. Millions of successful 
small businesses that pay on the personal income tax schedule will find 
their taxes are going down.
    And when the tax cut is fully phased in, 43 million married couples 
will see their taxes reduced on average by over $1,700 per year. Thirty-
eight million families with children will receive an annual tax cut of 
almost $1,500 to help pay for education, child care, or other expenses. 
Eleven million single mothers will be able to keep an average of $770 
more of their income each year to care for their children. Thirteen 
million seniors will see their taxes reduced on average by more than 
$900. And 3.9 million Americans will have their income tax liability 
completely eliminated.
    Next week, the House will take up legislation to make this tax 
relief permanent. And I urge Congress to pass this vital measure.
    Tax relief is a crucial part of my administration's overall economic 
growth agenda, to create more high-paying jobs. Like our balanced energy 
plan and our determination to knock down trade barriers, tax relief will 
help you achieve the economic security you need to realize your dreams.
    Thank you for listening.

Note: The address was recorded at 9:55 a.m. on April 12 in the Cabinet 
Room at the White House for broadcast at 10:06 a.m. on April 13. The 
transcript was made available by the Office of the Press Secretary on 
April 12 but was embargoed for release until the broadcast. The Office 
of the Press Secretary also released a Spanish language transcript of 
this address.