For Immediate Release
Office of the Press Secretary
December 15, 2001
President Calls on Senate to Bring Economic Package to Vote
Radio Address by the President to the Nation
The Cabinet Room
Listen to the President's Remarks
THE PRESIDENT: Good morning. As too many
Americans know firsthand, the economy began to slow early last year,
and terrorism has hit us hard. Many workers have lost jobs and others
are seeing their hours cut. The American people want action
to improve our economy, and so do I.
More than two months, and more than 700,000 lost jobs ago, I
proposed an economic security package to help workers who have been
laid off, and to take action to create jobs and promote long-term
economic growth. The House of Representatives quickly
responded, passing its own legislation to help jump-start the
economy. The Senate has failed to act. And while
the Senate has failed to do its work, more and more Americans have been
thrown out of work.
To break the logjam in the Senate, I reached out this week to
moderate Democrats and Republicans to build a consensus that gave both
parties some of what they want, and most important, will give our
economy the boost it needs. This bipartisan package will
give workers who have lost a job since the recession began last March
an additional 13 weeks of unemployment benefits. It will
also help unemployed workers keep their health insurance, and will give
governors greater resources and more flexibility to assist those in
need.
These new bipartisan measures help working families who are
struggling to make ends meet, giving up to $600 cash refund to
low-income families who don't earn enough to pay income tax, but still
pay part of their income in payroll taxes. And this plan
helps middle class families, couples earning approximately $60,000, and
individuals earning $40,000, by speeding up planned tax relief for
them, as well.
This installment of tax relief was scheduled for
2004. Under this new idea, many middle class families will
see a rise in their take-home pay in just a couple of weeks.
And finally, this agreement will create jobs. Among
other steps, it gives employers incentives to invest in new equipment
right away. It lowers the tax rate for 10 million small
businesses and entrepreneurs, making it easier for them to expand and
grow and hire new workers. It focuses on other policies that
will also increase investment and produce new jobs.
This economic growth package is urgently needed. Today,
the federal government's Council of Economic Advisors released a report
that estimates the bipartisan agreement reached this week can save
300,000 American jobs that might otherwise be lost if we fail to act.
Democrats and Republicans set aside partisan politics to arrive at
this agreement. They want to get something done for
America's workers. We believe this agreement has enough
votes to be approved by the United States Senate, and I'm ready to sign
it into law. But first the Senate Leader must schedule a
vote.
On behalf of the American workers and our American economy, I call
on the leadership of the Senate to bring this bipartisan economic
recovery plan to a vote, to bring help to unemployed workers and a
crucial boost to our economy.
The holidays are upon us and time is running out. While
some in Washington are looking for reasons not to act, many in Congress
in both parties want to find a way to get the job
done. America's workers are counting on us.
Thank you for listening.
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