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 Home > News & Policies > March 2003

For Immediate Release
March 17, 2003

Jobs & Economic Growth Fact of the Day

34,000,000

By next St. Patricks Day, 34 million families with children will benefit from extra green in their pocketsan average tax cut of $1,473 in 2003 under the Presidents economic growth plan.

Today's Action

  • The Presidents jobs and economic growth plan builds on the success of the 2001 tax cuts. Republicans and Democrats in Congress have already enacted these cuts. The President believes the time to deliver this relief is now when it can do the most good for American families not years from now.

  • The President wont be satisfied until every American who wants a job can find a job, and all Americans have economic security.

  • 92 million taxpayersespecially middle-income taxpayerswill benefit from the Presidents plan as rate reductions and other tax relief provisions passed by Congress in 2001 are made effective immediately. Accelerated reduction of the marriage penalty, a faster increase in the child tax credit, and immediate implementation of the wider 10 percent tax bracket will benefit many middle-income families.

  • The Presidents plan would:
    • Speed up the 2001 tax cuts to increase the pace of the recovery and job creation.
    • Encourage job-creating investment in Americas businesses by ending the double taxation of dividends and giving small businesses incentives to grow.
    • Provide help for unemployed Americans, including extending unemployment benefits and creating new re-employment accounts to help displaced workers get back on the job.
    • The President has urged Congress to move quickly and act on his economic proposals to encourage our Nations entrepreneurs, speed up economic growth and generate new jobs for American workers.