[Weekly Compilation of Presidential Documents Volume 41, Number 16 (Monday, April 25, 2005)]
[Pages 636-641]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks to the United States Hispanic Chamber of Commerce Legislative 
Conference

April 20, 2005

    Thank you all. Thank you all for the warm welcome. Please be seated. 
Thank you. Thank you, Al, for your kind introduction. I've had this good 
man by my side for quite a while. When I was the Governor of Texas, we 
worked together. [Applause] There you go. [Laughter] And now as the 
President of these United States, I'm proud to serve with Al Gonzales as 
our Attorney General.
    I want to thank you for allowing me to come and speak to the United 
States Hispanic Chamber of Commerce. It's an honor to be here. I see a 
lot of friends--I was going to say a lot of old friends, but--
[laughter]--some of you are younger than I am.
    I appreciate your hard work and your commitment to the 
entrepreneurial spirit of America. You know, one of the great things 
about our country is, the entrepreneurial spirit is strong. The dream of 
owning your own business is alive. The willingness for people to take 
risk is an important part of our society, and as a result, small 
businesses are being created throughout all our society, and the job 
base is increasing as a result.
    I look forward to working with you the next 4 years to keep the 
prosperity of our country going. We share a common goal to make sure the 
American Dream is available for all. El Sueno Americano es para todos. 
[Laughter] This is the land of opportunity, and it must remain the land 
of opportunity, where our origins matter less than our aspirations. And 
this country's success depends not on accident of birth but on personal 
effort and drive and determination. And so I'll continue to work with 
you to create a society where personal effort is rewarded and 
opportunity is within the reach of every one of our citizens.
    In order to make sure opportunity is within the reach of every one 
of our citizens, we've got to have an economy that continues to

[[Page 637]]

grow and expand. Today I have come to talk about ways to make sure our 
economy continues to grow and expand, with special emphasis on an energy 
policy. To create jobs and prosperity in a new century, energy must be 
abundant and affordable for all our citizens. That means we've got to 
become less dependent on foreign sources of energy.
    I appreciate Hector Barreto joining us today. He's been the 
Administrator of the Small Business Administration. Thanks for your good 
work. I want to thank the leadership of the Chamber. Thank you all for 
having me. I appreciate the chance to come and talk about a really 
important part of making sure America stays competitive and jobs 
continue to grow, and that's a sound energy policy. I want to thank the 
members of the Hispanic Chamber for allowing me and Al to come by to say 
hello.
    You see, one of the things I do want to share with you is we've got 
an ambitious agenda to keep the country safe and prosperous and free. 
The war on terror continues. We're still at war. There is an enemy that 
still would like to harm America, an enemy which hates what we stand 
for. I can assure you that this administration will be relentless, 
untiring in our efforts to bring the enemy to justice. We will work with 
our friends and allies to keep the pressure on these people. Our most 
important job in America is to keep this country secure, and that's 
exactly what we'll work hard to do.
    I'll work with Al and other members of my Cabinet to make sure that 
we do everything we can to improve the security at home. But I want you 
to know what I think. I think in the long run, the best way to protect 
America, the best way to spread the peace, the best way to leave a 
legacy for our children and grandchildren is to spread freedom around 
the world. I do not believe freedom is America's gift to the world. 
You've just got to know that about our foreign policy. I do believe that 
freedom is a gift from the Almighty to each person in this world. And I 
know that free societies will be peaceful societies.
    At home, we'll continue to pursue progrowth economic policies so 
that America is the best place in the world to risk capital and do 
business. Listen, we have faced a lot; you know it just as well as I 
have. You have been on the frontlines of job creation. You understand 
what this economy has been through. We've been through a stock market 
decline. We have been through corporate scandals. We've been through a 
terrorist attack. We've been through a recession and an ongoing war. But 
we have confronted the challenges head-on. This economy of ours today is 
the fastest growing of any major industrialized nation. Economists see 
solid growth for the years ahead, and that's positive.
    I don't know if you know this or not, but we've now added more than 
3 million jobs over the past 22 months. Today, more Americans are 
working than any time in our Nation's history. The unemployment rate 
amongst Hispanics has dropped to 5.7 percent--a figure still too high, 
but that is down from 8.4 percent over the past 2 years. Today, more 
Hispanics own their own homes than ever before in our Nation's history. 
The Small Business Administration is lending to Hispanic-owned companies 
a lot. The lending has nearly doubled since I took office in 2001. The 
thing about the Hispanic community that I know well--I was taught this 
by a lot of my friends in Texas--is that the entrepreneurial spirit is 
strong in the Latino community. There are a lot of great businessowners 
and risktakers, people who know what they're doing when it comes to 
running a business and creating jobs.
    And so one of the things that you must ask about people in 
Washington, DC: One is, do you understand that; and two, if you do, how 
are you going to make sure opportunity continues to grow? What are you 
going to do to make sure that our economy is strong today and strong 
tomorrow? It's hard to be a successful entrepreneur if the economy is in 
the doldrums.
    So here are some ideas that I want Congress to listen to. One, in 
order to help small businesses, Hispanic small businesses grow, we've 
got to make sure small businesses are allowed to pool risk, come 
together and to join in associations across jurisdictional boundaries, 
so small businesses can buy insurance at the same discounts that big 
businesses are able to do.

[[Page 638]]

    Senator Jim Talent from Missouri, who is one of the leading 
advocates of association health plans, plans that will enable small 
businesses to better afford health care, was to be here; he got called 
away for a vote. I excuse him--[laughter]--so long as he votes the right 
way. [Laughter]
    Many small businesses are organized as Subchapter S corporations or 
limited partnerships and therefore pay tax--income tax on the personal 
scales--personal income tax scales. So when we reduce personal income 
taxes, we reduce the taxes on many Latino-owned businesses around the 
country. And in order to make sure this economy continues to grow, we 
have got to keep taxes low on the job creators of America.
    We'll continue to work to protect small business from needless 
regulation and from the burden of junk lawsuits. We need an immigration 
reform plan that does not grant amnesty but does match willing foreign 
workers with willing American employers when no Americans can be found 
to fill the job.
    We need to continue to knock down trade barriers across the world so 
we can open up new markets for America's entrepreneurs. To create jobs 
and to strengthen democracy in our hemisphere, the Congress needs to 
pass the Central American Free Trade Agreement.
    To guarantee Americans a secure and dignified retirement--I'm 
talking about younger Americans, not baby boomers like me and you; we're 
fine when it comes to Social Security--but to make sure that younger 
Americans aren't saddled with enormous tax burdens, to make sure that 
there is--that unfunded liabilities don't loom over the capital markets, 
we need to modernize the Social Security system for our children and our 
grandchildren.
    As we grow the economy, we need to be responsible stewards with your 
tax--with your money, see. And that's why I submitted a disciplined 
Federal budget. Both the House and the Senate have passed budget 
resolutions. Congress needs to get together and iron out their 
differences and sends me a budget that meets priorities, restrains 
Federal spending, and keeps us on track to cut the deficit in half by 
2009.
    Here's what I think--and I think it makes sense; as taxpayers, you 
should think it makes sense--a taxpayer dollar must be spent wisely or 
not at all.
    To keep this economy growing, we need to ensure our Nation has an 
affordable, reliable, and secure supply of energy. Today, millions of 
American families and small businesses are hurting because of higher 
gasoline prices. If you're trying to meet a payroll or trying to meet a 
family budget, you know that even small changes at the pump can have a 
big impact on your bottom line. If you're a businessowner who has to 
make the choice between adding a new worker or paying a higher energy 
bill, you're going to be doing a lot less hiring.
    Last week, I had the honor of paying tribute to some of our troops 
in Fort Hood, Texas. I sat down at a table with a bunch of the enlisted 
personnel, and we were talking about what's on their mind. A guy said, 
``Why don't you lower gasoline prices, Mr. President?'' [Laughter] I 
said, ``I wish I could. I wish I could simply wave a magic wand and 
lower gas prices tomorrow. I'd do that.'' Unfortunately, higher gas 
prices are a problem that has been years in the making. One of the 
things we can do to try to help in the immediate term: We can encourage 
oil-producing countries to maximize their production overseas; we can 
make sure consumers are treated fairly, that there's not price gouging. 
But we must act now to address the fundamental problem. Our supply of 
energy is not growing fast enough to meet the demands of our growing 
economy.
    Over the past decade, America's energy consumption has increased by 
more than 12 percent, yet our domestic production has increased by less 
than one-half of 1 percent. That means that our Nation is more and more 
reliant on foreign sources of energy. At the same time, the global 
demand for energy is growing faster than the global supply, which has 
contributed to a steep rise in the price of crude oil, which is the 
feedstock for gasoline. Because our foreign energy dependence is 
growing, our ability to take actions at home that will lower prices for 
American families is diminishing. Our dependence on foreign energy is 
like a foreign tax on the American Dream, a tax our citizens pay every

[[Page 639]]

day in higher gas prices, higher cost to heat and cool their homes, a 
tax on jobs. Worst of all, it's a tax increasing every year.
    For the sake of American workers and families, we have got to reduce 
our dependence on foreign sources of energy. It's a matter of economic 
security, and it's also a matter of national security. When America 
depends on only a handful of countries for nearly 60 percent of our oil, 
the danger of major energy disruption grows. Some of you are old enough 
to remember the seventies, when we rationed gasoline. The President of 
the United States and Congress have a responsibility to make sure 
America never returns to those days, and we've got to meet that 
responsibility.
    Here in Washington, we have got to meet the responsibilities before 
us and not duck behind partisan politics. And the problem is clear. This 
problem didn't develop overnight, by the way, and it's not going to be 
fixed overnight. But this problem--to solve the problem, the Nation has 
got to make a decision. Members of Congress must decide: Do we want to 
continue growing more dependent on other nations to meet our energy 
needs, or do we want to take the necessary steps to achieve greater 
control of our economic destiny? Those are the questions before us.
    I have my opinion. I believe America should not live at the mercy of 
global trends and the decisions of other nations. For more than a 
decade, this country has not had a comprehensive national energy policy, 
and now is the time to change it.
    That's why one of the first things I did when I came to office 4 
years ago was to develop a national energy strategy. My first month in 
office, I sent Congress a plan to put America on the path to greater 
energy security. For 4 years, Congress has discussed and debated, but 
they haven't achieved any results. Today Members of Congress began 
debating an energy bill, and this time they need to give us one. The 
summer travel season is fast approaching. Gas prices are on the minds of 
millions of Americans. Members of Congress can send an important signal 
that they are serious about solving America's energy problems by getting 
a bill to my desk before the summer recess.
    The Congress needs to send a sound energy bill that meets four 
important objectives. First, the energy bill should encourage the use of 
technology to improve conservation and efficiency. Today, the average 
American home loses between 10 to 50 percent of its energy through 
inadequate insulation and inefficient lights and appliances. Think about 
that: We lose 10 to 50 percent of its energy through inefficiencies.
    The energy bill Congress is now considering would extend the Energy 
Star program that encourages the sale and production of energy-efficient 
products like super-efficient refrigerators that use less energy than a 
75-watt light bulb. It would encourage energy efficiency and renewable 
energy research that would one day lead to zero-energy homes that 
produce as much energy as they consume.
    If we want to become less dependent on foreign sources of energy, 
we've got to conserve better. And we know from experience we can do 
this. Over the last 25 years, our economy has grown by 110 percent, 
while our energy consumption has grown by only 24 percent. We have 
become more efficient as a nation, and there's more we can do. And the 
bill in front of Congress encourages conservation and efficient use of 
energy.
    Secondly, as we promote conservation, the energy bill must also 
expand domestic energy production in environmentally sensitive ways. We 
have the most innovative economy in the world. America must put its 
innovative spirit to work to make sure we can find and use resources in 
a better way. And we can begin by making sure we can use our most 
abundant energy source in a smart way.
    Our most abundant energy source is coal. We have enough coal to last 
for 250 years, yet coal also presents an environmental challenge. The 
energy bill now being considered before Congress would help us make 
cleaner use of this resource by authorizing more than a billion dollars 
for the Clean Coal Power Initiative, a program that will encourage new 
technologies that remove virtually all pollutants from coal-fired 
powerplants.
    To achieve greater energy security, we have got to harness the power 
of clean coal. We should also open up new areas to environmentally 
responsible exploration for oil

[[Page 640]]

and natural gas, including the Arctic National Wildlife Refuge.
    The Department of Interior estimates that we could recover more than 
10 billion barrels of oil from a small corner of ANWR that was reserved 
specifically for energy development. ANWR consists of 19 million acres 
of land. Technology now makes it possible to reach ANWR's hydrocarbons 
by drilling on just 2,000 acres of the 19 million acres of land. That's 
just one-tenth of 1 percent of ANWR's total area. And we can reach 
ANWR's oil deposits with almost no impact on land and local wildlife. 
It's important for our citizens to understand how much technology has 
changed. Developing this tiny section of ANWR could eventually yield up 
to a million barrels of oil a day. Do you realize that that's more than 
half of what we import each day from Venezuela, for example? The more 
oil we can produce at home in environmentally sensitive ways, the less 
dependent we are on foreign sources of energy.
    With oil at more than $50 a barrel, by the way, energy companies do 
not need taxpayers-funded incentives to explore for oil and gas. To 
expand domestic energy production, we need to expand our use of nuclear 
power. Today, nuclear power provides about 20 percent of our Nation's 
electricity. It produces without pollution or greenhouse gases. Congress 
needs to send me an energy bill. If we're serious about diversifying 
away from foreign sources of energy, Congress needs to send me a bill 
that includes liability protection and regulatory certainty for nuclear 
powerplants.
    Third, as we increase domestic production of existing resources, an 
energy bill should also help us diversify our Nation's energy supply by 
developing alternative sources of energy. If future generations can 
count on energy in different forms, they're going to be less vulnerable 
to price spikes or shifts in supply of any one form of energy.
    The energy bill should encourage greater use of ethanol. And I like 
the idea of people growing corn that gets converted into energy. 
Somebody walks into the Oval Office and says, ``There's a lot of corn 
being grown, Mr. President.'' Hopefully, that one day will mean we're 
less dependent on foreign sources of energy. The more corn there is, the 
more we have to eat. The more corn there is; the more energy there is. 
And so the bill includes monies for research to make sure we use 
ethanol. Incredibly enough, we may be able to get ethanol from municipal 
waste dumps or forests.
    In our budget, we've got $2.5 billion in tax credits for the 
purchase of hybrid vehicles. In other words, we're beginning to 
diversify away from old habits. Hybrid vehicles are a part of becoming 
less dependent on foreign sources of energy.
    An energy bill should also help advance another vital project, the 
project I outlined in the State of the Union Address, the hydrogen fuel 
initiative. Two years ago, we launched a crash program to develop 
hydrogen-powered fuel cell vehicles. We've dedicated $1.2 billion over 5 
years to this effort. We know that when hydrogen is used in a fuel cell, 
it has the potential to power anything from a car to a cell phone to a 
computer, that emits pure water instead of exhaust fumes.
    The energy bill, if they get it to my desk, will authorize vital 
funds to help move hydrogen-powered cars from the research lab to the 
dealership lot. With investment now, we can make it possible for today's 
children to take their driver's test in a completely pollution-free car.
    An energy bill should also provide tax credits for renewable power 
sources such as wind and landfill gas. By harnessing innovative 
technologies, we can ensure a cheaper, cleaner, more abundant supply of 
energy for all Americans.
    Fourth, as we diversify our energy supply, we need an energy bill 
that will help us modernize our domestic energy infrastructure. In some 
parts of the country, homes and businesses are receiving 21st century 
power through infrastructure built decades ago. Transmission lines and 
pipelines and generating facilities are deteriorating here in America. 
Different regions share electricity over unreliable transmission lines. 
And these strains on the system are leading to higher prices, 
bottlenecks in delivery, and inefficient use of energy, which we can no 
longer afford. And just when one piece of the power grid fails, the 
result can be darkness across the map, as we learned a couple of years 
ago.

[[Page 641]]

And that hurts small businesses. It makes it harder to risk capital. It 
affects job creation. The problems can be solved. Congress needs to act.
    Current law makes it optional, rather than mandatory, for power 
companies to ensure reliability across the electricity grid. Most of you 
consider it mandatory for a light to come on when you flip the switch. 
The Congress should too. [Laughter] An energy bill should repeal 
outdated rules that discourage investment in new power infrastructure, 
should encourage the development of new technologies such as super-
conductive power lines to make the grid more efficient. In other words, 
we're dealing with old laws that need to be changed and modernized for 
the sake of job creation and job growth.
    And to keep local disputes from causing national problems, Federal 
officials should have the authority to site new power lines. We have 
modern interstate grids for our phone lines and highways. It's time for 
America to save energy by building a modern electricity grid as well.
    The energy bill now before Congress contains the elements of the 
strategy I just outlined. But it's 4 years behind schedule, and now it's 
time for Congress to pass it. I met yesterday with leaders from both 
parties who are going to shepherd the energy bill through the House and 
the Senate. I appreciated the bipartisan discussion we had. I 
appreciated the spirit of trying to get something done. I urged the 
House and the Senate to get the bill by August. I also told them that we 
would help them work out differences, come up with reasonable 
compromises on an issue such as MTBE. In other words, I said I 
understand how important it is to get this moving, and so does Congress 
need to understand how important it is to get this bill moving.
    All measures that I've discussed with you today are designed with 
one overriding goal, to address the root causes of higher energy prices 
and to address our dependency upon foreign sources of energy.
    We're in a situation today because for more than a decade, our 
Nation has not had a comprehensive energy strategy. And we need one now, 
and passing the bill is the first step. An energy bill wouldn't change 
the price at the pump today. I know that, and you know that. It will 
help us make better use of the energy supplies we have. It will make our 
supply of energy more affordable and more secure for the future.
    I've set big goals for this policy; I understand that. You think 
about how comprehensive the strategy is I outlined to you. There's a lot 
we can and will do, and I'm confident we can meet those goals. History 
has shown us the American innovative spirit is never in short supply. 
And I know we can harness this spirit in this new century. What I'm 
talking about is making sure that we leave our children and 
grandchildren a cleaner, healthier, and more secure America, an America 
that is less dependent on sources of energy from overseas.
    And to achieve these goals, I'm going to need your help. As you work 
the Halls of Congress--and I know you're pretty darn good at it--
[laughter]--I would like very much for you to visit with the Congress 
and urge them to get an energy bill passed, urge them to rise above the 
kind of partisan bickering that sometimes dominates Capitol Hill and 
focus on this country's interests. And it is in this interest to get me 
an energy bill I can sign by August of this year.
    Thank you for giving me a chance to come by to visit with you. Que 
Dios los bendiga. Thank you all.

Note: The President spoke at 1:11 p.m. at the Ronald Reagan Building and 
International Trade Center. The Office of the Press Secretary also 
released a Spanish language transcript of these remarks.