For Immediate Release
Office of the Press Secretary
June 7, 2001
Remarks by the President in Tax Cut Bill Signing Ceremony
East Room
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En Español
9:58 A.M. EDT
THE PRESIDENT: Thank
you. Sit down -- behave yourself, you're at the White
House. (Laughter.)
Laura, thank you very much for being here on
this historic moment. Mr. Vice President, Secretary O'Neill, Director
Daniels, Secretary Evans and Chao are here, as
well. Secretary Abraham, Administrator Christine Todd
Whitman, members of the United States Senate, members of the House of
Representatives, fellow Americans. Welcome.
Some months ago, in my speech to the Joint
Session of Congress, I had the honor of introducing Steven Ramos to the
nation. Steven is the network administrator for a school
district. His wife, Josefina, teaches at a charter
school. They have a little girl named Lianna. And
they're trying to save for Lianna's college education.
High taxes made saving
difficult. Last year, they paid nearly $8,000 in federal
income taxes. Well, today, we're beginning to make life for
the Ramos' a lot easier. Today, we start to return some of
the Ramos' money -- and not only their money, but the money of
everybody who paid taxes in the United States of
America. (Applause.)
Across the board tax relief does not happen
often in Washington, D.C. In fact, since World War II, it has happened
only twice: President Kennedy's tax cut in the '60s and
President Reagan's tax cuts in the 1980s. And now it's happening for
the third time, and it's about time. (Applause.)
A year ago, tax relief was said to be a
political impossibility. Six months ago, it was supposed to
be a political liability. Today, it becomes
reality. It becomes reality because of the bipartisan
leadership of the members of the United States
Congress. Members like Bill Thomas, of California; Ralph
Hall, of Texas; Charles Grassley, of Iowa; Max Baucus of Montanna; Zell
Miller, of Georgia; John Breaux, of Louisiana; Trent Lott, of
Mississippi; and the entire leadership team in the Senate; and Denny
Hastert of Illinois and the leadership team in the House of
Representatives. Some Democrats, many Republicans, who
worked tirelessly and effectively to produce this important result.
I also want to pay tribute to the members of
my administration who worked with Congress to bring about this
day: Vice President Cheney, Secretary O'Neill, Director
Daniels and the team inside the White House of Andy Card and Larry
Lindsey, Nick Calio and their staffs.
With us today are 15 of the many families I
met as I toured our country making the case for tax relief,
hard-working Americans. I was able to talk about their
stories and their struggles and their hopes, which made the case for
tax relief much stronger than my words could possible convey. And I
want to thank you all for coming.
And here at the White House today are
representatives of millions of Americans, including labor union
members, small business owners and family farmers. Your
persistence and determination helped bring us to this day. The
American people should be proud of your efforts on their behalf, and I
personally thank you all for coming.
Tax relief is a great achievement for the
American people. Tax relief is the first achievement
produced by the new tone in Washington, and it was produced in record
time. (Applause.) Tax relief is an achievement
for families struggling to enter the middle class. For hard
working lower income families, we have cut the bottom rate of federal
income tax from 15 percent to 10 percent. We doubled the
per-child tax credit to $1,000, and made it refundable. Tax
relief is compassionate and it is now on the way.
Tax relief is an achievement for middle class
families squeezed by high energy prices and credit card
debt. Most families can look forward to a $600 tax rebate,
before they have to pay the September back-to-school
bills. And in the years ahead, taxpayers can look forward to
steadily declining income tax rates.
Tax relief is an achievement for families that
want the government tax policy to be fair and not penalize them for
making good choices, good choices such as marriage and raising a
family. So we cut the marriage penalty.
Tax relief makes the code more fair for small
businesses and farmers and individuals by eliminating the death
tax. (Applause.) Over the long haul, tax relief
will encourage work and innovation. It will allow American
workers to save more on their pension plan or individual retirement
accounts. Tax relief expands individual
freedom. The money we return, or don't take in the first
place, can be saved for a child's education, spent on family needs,
invested in a home or in a business or a mutual fund or used to reduce
personal debt.
The message we send today, it's up to the
American people; it's the American people's choice. We
recognize loud and clear the surplus is not the government's
money. The surplus is the people's money and we ought to
trust them with their own money. (Applause.)
This tax relief plan is
principled. We cut taxes for every income
taxpayer. We target nobody in, we target nobody
out. And tax relief is now on the way.
Today is a great day for
America. It is the first major achievement of a new era, an
era of steady cooperation. And more achievements are
ahead. I thank the members of Congress in both parties who
made today possible. Together, we will lead our country to
new progress and new possibilities. It is now my honor to
sign the first broad tax relief in a generation. (Applause.)
(The bill was signed.) (Applause.)
END
10:07 A.M. EDT
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