For Immediate Release
Office of the Press Secretary
November 25, 2002
Message to the Congress of the United States
This report documents the state of small business at the end of the
20th century. Small businesses have always been the backbone of our
economy. They perennially account for most innovation and job
creation. Small businesses have sustained the economy when it is
robust and growing as well as in weaker times when small businesses
have put the economy back on the track to long-term growth.
We must work together to give small businesses an environment in
which they can thrive. Small businesses are disproportionately
affected by Government regulations and paperwork, and I am committed to
reducing this burden. We should regulate only where there is a real
need, fully justified through rigorous cost-benefit analysis and clear
legal authority. And when Government must regulate, it must adopt
commonsense approaches. Regulations work best when agencies anticipate
and analyze the effects of their proposals on small firms. Rules need
to reflect the ability of small businesses to comply.
Another barrier to unleashing the full potential of small business
is our tax code. I am committed to reducing taxes for all Americans --
especially small businesses. We must eliminate permanently the estate
tax, which so often has spelled the death of the business and the jobs
of its employees after the death of its founder. Our tax code should
encourage investment in small businesses, and particularly in new and
growing businesses. Because the innovations that drive tomorrow's
economy come from entrepreneurial small businesses today, we must help
them enter the marketplace, not impede them before they get there.
Above all, small businesses need a tax code that is understandable and
stable. Fairness, simplicity, transparency, and accountability should
be our goals, and I am committed to this end.
Small business embodies so much of what America is all about.
Self-reliance, hard work, innovation, the courage to take risks for
future growth: these are values that have served our Nation well since
its very beginning. They are values to be passed on from generation to
generation. We must ensure that our small businesses continue to
thrive and prosper, not just for their own sakes, but for all of us.
GEORGE W. BUSH
THE WHITE HOUSE,
November 19, 2002.
# # #
|