For Immediate Release
April 15, 2006
President's Radio Address
Audio
In Focus: Jobs and Economy
THE PRESIDENT: Good morning. Monday is Tax Day, and that means many of
you are busy finishing up your tax returns. The good news is that this
year Americans will once again keep more of their hard-earned dollars
because of the tax cuts we passed in 2001 and 2003.
An important debate is taking place in Washington over whether to keep
these tax cuts in place or to raise your taxes. For the sake of
American workers and their families, and for our entrepreneurs, I
believe Congress needs to make the tax relief permanent.
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Our economy prospers when Americans like you make the decisions on how
to spend, save, and invest your money. So the tax relief we passed cut
taxes for everyone who pays income taxes. We cut taxes on families by
lowering rates and by doubling the child credit. We also reduced the
marriage penalty, because our tax code should encourage marriage, not
penalize it. We cut taxes on small businesses, allowing them to expand
and hire more workers. And we worked with Congress to phase out the
death tax, because government should not tax farmers or small business
owners twice -- once when you make your money and a second time when you
try to pass the fruits of your life's work on to your loved ones.
So far, the tax relief I signed has left $880 billion with America's
workers and small business owners and families, and you have used that
money to fuel an economic resurgence. Our economy has added jobs for 31
months in a row, creating more than 5.1 million new jobs for American
workers. And the unemployment rate is now down to 4.7 percent, below
the average rate for each of the past four decades. Real after-tax
income per person has grown by more than 8 percent since I took office.
And that means, on average, Americans have an income that is $2,100
higher this year than it was at the beginning of 2001, after adjusting
for inflation.
Not everyone agrees that we should let you keep more of your money.
Some in Washington said that by cutting taxes, we were "ruining" our
economy. On the day that the House and Senate were finalizing the 2003
tax cuts, one Democratic leader said these cuts would "do nothing to
create jobs." Since then, the facts have proven that critic wrong --
5.1 million times over.
Tax relief has done exactly what it was designed to do: It has created
jobs and growth for the American people. Yet some here in Washington
are now proposing that we raise taxes, either by repealing the tax cuts
or letting them expire. These are the same politicians who told us that
letting you keep more of your own money would be irresponsible, and
reckless, and shameful. They were wrong then, and they are wrong now.
To keep our economy creating jobs and opportunity, Congress needs to
make the tax relief permanent.
There's more to do to maintain America's economic strength. We're
working to address rising energy prices and health care costs, which
puts pressure on family budgets and the bottom lines of our small
businesses. I have proposed practical reforms that would make health
care more available and affordable, and I put forward an energy
initiative that would make our dependence on Middle Eastern oil a thing
of the past. I urge Congress to act on these important priorities, so
we can keep America the economic leader of the world and allow more
families and small businesses to realize the American Dream.
America's economy is strong and benefiting all Americans. By keeping
taxes low and adopting sound policies that help our workers to compete
and our businesses to grow and expand, we will keep the economy moving
forward and extend prosperity and hope in our country.
Thank you for listening.
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