January 16, 2002

President: Raising Taxes Would be "Huge Mistake"
Excerpt from Presidential Remarks with Prime Minister Bulent Ecevit of Turkey
The Oval Office

Click here to read transcript of full remarks

3:10 P.M. EST

THE PRESIDENT: Well, Mr. Prime Minister, we put a significant tax relief package in place right at the right time. Our economy was beginning to slow down in March of 2001. Fortunately, I was able to work with both Democrats and Republicans in our Congress to get a good tax relief package out. And when the economy slows down, it makes sense to cut taxes. And that's exactly what's happened. And those who want to revoke the tax cut, basically raise taxes, are those who just don't share my view.

I think raising taxes in the midst of a recession is wrong economic policy. It would be a huge mistake, it's bad for American workers, it hurt when it comes to creating jobs, and so I strongly disagree with those who want to raise taxes here in Washington, D.C. I'm confident that the American people agree with me as well.

And if members of the House and the Senate listened to their constituents and listened to those who want to find work, they will understand the wisdom of our ways.

Thank you.

END 3:20 P.M. EST