For Immediate Release
Office of the Press Secretary
March 9, 2002
President Signs Stimulus Bill During Live Radio Address
Remarks by the President on Signing Job Creation and Worker Assistance Act of 2002 in Live Radio Address
The Rose Garden
10:06 A.M. EST
THE PRESIDENT: Good morning. I'm speaking to
you live from the Rose Garden, where I'm about to sign legislation that
will give short-term help to workers who have lost their jobs, and
provides long-term stimulus to create more jobs across our country.
I want to thank the Vice President. I want to thank
Speaker Hastert, Senator Daschle, Senator Lott, members of the Congress
for joining me today as I sign this important piece of
legislation. Many contributed to the success of this bill,
but none more than the Speaker and Chairman Bill Thomas.
Also here today are working men and women, small business people
who make this economy run. We're seeing some encouraging
signs in the economy, but we can't stand by and simply hope for
continued recovery. We must work for it. We must
make sure that our recovery continues and gains momentum. We want a
recovery that is broad enough and strong enough to provide jobs for all
our citizens.
The terrorist attacks of September the 11th were also an attack on
our economy, and a lot of people lost their jobs. Since
then, many laid off workers have been relying on unemployment benefits,
which normally end after 26 weeks. The bill I sign this
morning will allow the extension of jobless benefits by another 13
weeks, and even longer in states with high unemployment
rates. This will allow those who lost their jobs in the
recession, or in the aftermath of the September the 11th attacks more
time to pay their bills and support their families while they look for
work.
And in order for people to find jobs, businesses need to be
hiring. So this new law will provide tax incentives for companies to
expand and create jobs by investing in plant and
equipment. This measure will mean more job opportunities for
workers in every part of our country, especially in manufacturing and
in high tech and for those who work for small businesses.
This bill will also stimulate economic growth by extending net
operating loss rules and by granting some alternative minimum tax
relief. The city of New York suffered a great tragedy on September the
11th, and still faces major economic consequences. The bill
I sign into law today provides over $5 billion in tax relief to aid in
the recovery of lower Manhattan by helping businesses to get back on
their feet so they can start hiring again. The people of New
York have shown great courage, perseverance and America stands with
them.
This Monday marks six month since the attack on
America. For the families of the victims these have been six
months of sorrow, and America will never forget their loss.
In our war on terror, these have been six months of determined
action. We have destroyed terrorist camps, we've disrupted terrorist
finances, we've toppled a terrorist regime and brought thousands of
terrorists to justice. We are strengthening our nation's
defenses against attack. And, today, we are acting to help
workers, we're acting to create jobs and we're acting to strengthen our
economy
Thank you all for coming, and it is now my honor to sign this
important piece of legislation. (Applause.)
(The bill was signed.) (Applause.)
END
10:10 A.M. EST
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