[Weekly Compilation of Presidential Documents Volume 44, Number 15 (Monday, April 21, 2008)]
[Page 518]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks Following a Cabinet Meeting

April 14, 2008

    I want to thank members of my Cabinet for joining me this morning. 
We discussed a variety of subjects, including the progress being made in 
the freedom agenda around the world. But we also are reminded that 
tomorrow is tax day, and our fellow citizens will be paying taxes during 
a time of economic uncertainty. These are tough economic times.
    This administration anticipated these times. We worked with Congress 
to pass a progrowth package that incensed businesses to invest and a 
progrowth package that will be sending some of your taxpayers' money 
back to you. And the Secretary mentioned again that the second week of 
May, checks and/or credits to your account will start coming to you. And 
that's going to be an important part of making sure this economy begins 
to recover in a way that will add confidence and hope.
    One way Congress can act is to make the tax cuts permanent. If they 
really are that concerned about economic uncertainty, they ought to 
create certainty in the Tax Code.
    The other thing we've been very active on is helping people stay in 
their homes, whether it be the HOPE NOW Alliance or FHASecure. Over a 
million people have been helped to renegotiate and/or to find ways to 
stay in a home that they own.
    Now, Congress can help. Congress needs to modernize FHA; they need 
to modernize Fannie Mae and Freddie Mac. I mean, there's constructive 
things Congress can do that will encourage the housing market to correct 
quickly by encouraging--helping people stay in their homes. I don't 
think we ought to be bailing out lenders or speculators. I think we need 
to be helping hard-working Americans who are creditworthy stay in their 
homes.
    And I do want to say something about trade. There's big 
disappointment around this table about the action that the Speaker took 
on the Colombia free trade agreement. This free trade agreement is good 
for American workers, and it's good for American consumers. And this 
free trade agreement is in our national interests. Yet that bill is dead 
unless the Speaker schedules a definite vote. This is a unprecedented 
move, and it's not in our country's interest that we stiff an ally like 
Colombia and that we don't encourage our goods and services to be sold 
overseas.
    Congress recently has been working on legislation for beach 
monitoring and landscape conservation. And those are important issues, 
but not nearly as important as FHA modernization or the Colombia free 
trade agreement or making the tax cuts permanent.
    Thank you very much.

Note: The President spoke at 10:14 a.m. in the Cabinet Room at the White 
House.