Chamber Welcomes Bush Proposal on Economy - Urges Stimulus Package Focus on Money for Consumers

WASHINGTON, D.C. – United States Chamber of Commerce President and CEO Thomas Donohue applauded President Bush's outline of a growth package as important insurance for a reenergized economy.

"We need to move quickly to put money in the hands of people that are going to spend it and invest it," said Donohue. "Arguing about the size of a package will only delay actions which would help to underpin our future growth and prosperity."

Recent economic reports have shown the economy to be growing, although unevenly and well below its full potential. Congress must act on new measures to ensure continued economic vitality, according to the Chamber. Putting more disposable income in the hands of consumers, and making those changes permanent, while opening new windows of opportunity for businesses to invest, will have the greatest positive impact on the economy.

Donohue expressed his support for key elements of President Bush's economic growth plan: move up individual rate reductions already passed by Congress; accelerate depreciation and cut taxes on dividends; and additional relief for low and moderate income individuals.

"The right combination of incentives can benefit all industries and workers – and address both the supply and demand side of the economic equation," Donohue said. "The approach outlined by the president will boost individuals' ability to spend and encourage businesses to invest and create new jobs – insuring that our economy's upward momentum gathers strength and speed."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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