[Weekly Compilation of Presidential Documents Volume 42, Number 39 (Monday, October 2, 2006)]
[Pages 1665-1666]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks Following a Tour of Meyer Tool, Inc., in Cincinnati, Ohio

September 25, 2006

    I've come to this company because, first of all, I like to honor the 
entrepreneurial spirit. We've got a father and a son who are running 
this company and making sure of two things: One, they're on the leading 
edge of technological change; and two, they got a workforce that is 
trained and prepared to be able to provide product.
    This is a company that has benefitted from the tax cuts. They've 
increased their employment by about 125 over the past 12 months. They've 
expanded because of the bonus depreciation schedule--in other words, the 
tax cuts encouraged them to buy equipment, and when you buy equipment, 
you expand your business. Plus, this is a company that benefitted from 
the cut in the individual income tax rates--this is a subchapter S.

[[Page 1666]]

    This economy of ours is strong. And one of the main reasons it's 
strong is because of the tax cuts that we passed. And the fundamental 
question facing the country is, will we keep taxes low? Some have 
advocated that we ought to raise taxes on individuals, which would take 
money out of the pockets of this company. And if you take money out of 
the treasury of this company, it means it's less likely somebody is 
going to find work. So I think we ought to keep taxes low so companies 
like this can continue to expand and grow.
    This is an important debate facing the United States of America. I 
believe that small businesses are the backbone to economic vitality. I 
know that most new jobs are created by small businesses just like this 
one, and I know the tax cuts we passed have helped this small business 
expand. Congress needs to make the tax cuts we passed permanent so these 
entrepreneurs can plan. You hear people say, ``Well, we're not going to 
extend the tax cuts,'' that means they're going to raise taxes on the 
small business just like this one. And it's bad economic policy, and it 
will be bad for our country.
    Anyway, I want to thank you all for letting us join you. I'm 
impressed by your company. I know your workforce is vibrant, growing, 
well-trained. I know you know that you couldn't be doing what you're 
doing without a good workforce. So I want to thank you for taking care 
of them as well. Thank you.

Note: The President spoke at 4:22 p.m. In his remarks, he referred to 
Arlyn Easton, president and principal owner, and Beau Easton, director 
of continuous improvement, Meyer Tool, Inc. The Office of the Press 
Secretary also released a Spanish language transcript of these remarks.