Growth Package Will Help Spur Technology Economy

Under Secretary of Commerce for Technology and Chief of Staff Phil Bond today called President Bush's economic growth and jobs package a "growth package that will ultimately re-ignite the technology sector."

The President's new proposal would:

• Speed up the 2001 tax cuts to increase the pace of recovery and job creation;
• Encourage job-creating investment in America's businesses by ending the double taxation of dividends and giving small businesses incentives to grow;
• Providing investment incentives for small business - the greatest source of job growth and greatest potential for technology increases;
• Provide help for unemployed Americans, including extending unemployment benefits and creating new re-employment accounts to helped displaced workers get back on the job.

"Growing our economy and creating new jobs remains the key focus of this Administration and the Department of Commerce," said Bond. "The technology community will continue to play a leading role in our economic recovery and today's growth package will give them the tools they need to increase investment and create new jobs."

"This Administration is committed to maintaining American leadership in a knowledge-based economy. Today's growth package is designed to create a pro-technology, pro-growth economy both in the near-term and the long-term," Bond continued. "This economy needs greater investment and employment, and the President has presented a package that will deliver both for America's working families."