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Bush Urges Congress to Approve Tax-Cut Plan
U.S. President George W. Bush called on Congress Saturday to ease the pain of a stumbling economy by quickly passing his plan for US$1.6 trillion in tax cuts over a decade.
"We have been hearing too much troubling economic news," Bush said in his weekly radio address. "It is time for the United States Congress to give Americans some good economic news: tax relief for everyone who pays income taxes," he said.
Bush mentioned falling stock market prices, higher energy prices, layoffs and slowing retail sales, and said it is only common sense to give the U.S. economy a boost during a slowdown.
"For several months, economic indicators have pointed toward a slowdown, and now many Americans are beginning to feel its impact.. .," he said.
"The stock market is causing worries, high energy prices are straining family budgets and some American workers and small business people have been directly affected by layoffs and slowing retail sales," Bush added.
Earlier this month, the main part of Bush's 1.6-trillion-dollar plan, the 958-billion-dollar income tax cut, was passed by the Republican-controlled House and sent to the Senate for approval.
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