Statement on the National Economy

Weekly Compilation of Presidential Documents, May 31, 2004

May 28, 2004

One year ago today, I signed into law the jobs and growth tax relief package to jumpstart the economic recovery and create jobs for American workers. With our economy growing at the fastest pace in nearly 20 years and more than 1.1 million more Americans working since last August, it is clear the tax relief is working.

Take-home pay for workers is up, and disposable income for families has increased to record levels. The incentives in our plan for small businesses are producing results as more manufacturers have been reporting increased activity and new orders than at any time in 20 years. I am encouraged to see that the unemployment rate has fallen in 47 of 50 States, because we want everyone who wants to work to be able to find a job.

There is more to do. We must continue to build on this success by expanding growth and increasing prosperity for all Americans. I look forward to working with Congress to pass my six-point plan for economic growth, including making the tax cuts permanent, and to ensure that our workers have the skills to compete in the changing world.