FROM THE OFFICE OF PUBLIC AFFAIRS

Published 08/05/2003 
Last week, we traveled together through Wisconsin and Minnesota to see the American economy in action. In Wisconsin, we met with workers and chief executives in Milwaukee, small-business leaders at a forklift sales and servicing company in Green Bay, and families at a Culver's in Mosinee. In Minnesota, we met health care professionals and students at the Mayo Clinic in Rochester, investors in St. Paul, and retail workers at a Best Buy in Richfield. In Milwaukee, we were so enthusiastic for the workers and product at the Harley Davidson motorcycle manufacturing plant that our two-state bus tour nearly became a two-wheeled bike tour.

At each of our stops, we were impressed with the energy and optimism of the American people. Folks have been weathering a slower economy the past few years, but there is a general sense that it's improving and even better days are ahead. With the implementation of the president's Jobs and Growth Plan, working families are getting the relief they've earned, and businesses and entrepreneurs are beginning to act on plans to create new jobs and increase output. In fact, more than 3.5 million taxpayers in these two states are now enjoying higher disposable income thanks to the president's plan. They are putting that money to work for themselves, their families and for this economy.

For families, the first child tax credit checks have already been mailed. July marked the start of more generous paycheck withholding tables and the end of the marriage penalty. The people we met were taking notice.

On the supply side, investors and business leaders are beginning to realize the benefits of lower dividend and capital gains taxes. Small businesses in particular are cheering the higher expensing limits for new equipment purchases. These lower taxes on capital are encouraging investment and smarter allocation of resources. In more and more cases, that means large companies are returning cash to shareholders, instead of retaining earnings indefinitely. For companies of all sizes, it means taking long-standing capital spending plans off the shelf, and putting them into action.

And we talked to workers taking advantage of training programs in the health care sector, which is one of the fastest-growing sectors in the 21st-century workforce. By the year 2010, there will be more than 1 million job openings for registered nurses alone.

There are a lot of stories like these in our nation's economy right now, in Wisconsin, Minnesota and in every state. The president's Jobs and Growth Plan is making a difference, encouraging people to push forward with spending and investment plans, plans that will ultimately boost growth and create new jobs throughout this country.

Treasury Secretary John Snow, Commerce Secretary Don Evans and Labor Secretary Elaine Chao are members of President Bush's Cabinet.