For Immediate Release
Office of the Press Secretary
December 4, 2001

Fact Sheet: Economic Security and Worker Assistance

Today's Presidential Action:

President Bush visits Operation Paycheck -- a job training center in Orlando, Florida -- to emphasize his concern and his plans to help workers who lost their jobs in the wake of the September 11 attacks. The President also leads a town hall meeting with local citizens from a community adversely impacted by the September 11 attacks to discuss economic concerns and America's efforts in the war on terrorism.

The attacks of September 11 were also an attack on our economy. President Bush continues to urge Congress to act on an economic security package to help America's workers.

Background on the President's Visit:

The President visits the newest Operation Paycheck One-Stop Center in Orlando. Operation Paycheck is a program of the State of Florida's Agency for Workforce Innovation that helps laid-off workers obtain the skills they need to quickly transition into a new job. A significant number of the workers in the Operation Paycheck program are from the service sector, including the tourism and aviation industries.

The One-Stop Center is an example of how an effective state-federal partnership can quickly get assistance to the displaced workers who need it. Florida is implementing the Operation Paycheck program with $10 million in existing dislocated worker funds from the Department of Labor. The program will further benefit from a portion of the $3.4 million in new National Emergency Grant funds that the Department of Labor approved for Florida this week. With these funds, qualifying employees are eligible for income support and job training.

The President's Agenda for Economic Security and Worker Relief:

President Bush has urged Congress to act on an economic security package to jumpstart the economy and directly help workers who have lost their jobs in the wake of the September 11 attacks.

The President proposed a Back to Work Relief Package on October 4 to provide help to those workers hardest hit by the economic impact of the attacks. This package would:

• Extend unemployment benefits by 13 weeks for workers in the states hardest hit by the events of September 11;

• Provide $3 billion in special National Emergency Grants to help displaced workers maintain health coverage, supplement their income and receive job training;
• Make $11 billion available to states to help low-income workers obtain health insurance;
• and Encourage affected workers to take advantage of more than $6 billion in existing federal job search, training and placement programs.

The President initially urged Congress on October 5 to enact an economic security package that focuses on:

• Accelerating Marginal Tax Rate Reductions: Gives consumers more to spend and invest, and gives businesses and entrepreneurs more resources to help them retain or create more jobs.

• Partial Expensing: Encourages businesses to invest in new equipment and resources by allowing them to partially expense capital expenditures, allowing them to make purchases they might not otherwise have been able to afford.
• Eliminating the Corporate AMT: Promotes new investment by businesses by eliminating the corporate alternative minimum tax, which imposes job-killing higher taxes on corporations and small businesses.
• Tax Relief for Low-and Moderate-Income Workers: Reduces taxes for low- and moderate-income households beyond relief already approved by Congress, ensuring that the most vulnerable workers will have more money in their pockets.

For more information on the President's initiatives please visit www.whitehouse.gov