MILWAUKEE SMALL BUSINESS TELLS EVANS THAT ECONOMIC FORECAST IS BRIGHTER BECAUSE OF PRESIDENT’S ECONOMIC PLAN

U.S. Secretary of Commerce Don Evans, calling the President’s economic plan “exactly the right plan at the right time” tapped into his 20 years of experience in the private sector today as he discussed the plan’s benefits with the employees of a small business. Evans and U.S. Reps. James Sensenbrenner (WI- 5) and Paul Ryan (WI-1) paid a visit to Visa Lighting Corporation, a manufacturer of decorative lighting, to highlight the elements of President Bush’s plan that target small businesses for economic growth and job creation. Evans pointed out that small businesses are responsible for 70% of new jobs in America, they stand at the heart of the President’s plan to grow the economy and create new jobs for the American people.

“Small businesses are the engine that drive the American economy and are at the heart of the President’s plan to grow this economy and create new, better paying jobs for the American people,” said Evans. “By lowering taxes, the President’s plan gives small businesses the tools they need to purchase new equipment, hire new employees and grow the economy this year and many years into the future.”

“Republicans have learned from history that it takes more than a one-time $300 tax rebate to individuals to help jumpstart a lagging economy,” said Sensenbrenner. “Earlier this month, the President unveiled an economic growth plan with some innovative ideas and approaches to continue helping Americans and small businesses like Visa Lighting. Small businesses create the majority of new jobs and account for half the output of the economy. The President's plan will help small business owners by increasing the amount they can deduct for expenses. This will encourage them to buy the items and services they will need to expand, and consequently, hire more people.”

“One of the greatest obstacles facing the Wisconsin job market is too little investment in the economy,” Ryan said. “We need economic policies that expand business investment so our small businesses can grow and hire more workers. The President's economic package focuses on doing just that. It lowers the tax on small business investment in a number of critical ways, and this will spur needed economic recovery in Wisconsin and throughout our country.”

As they toured the facility, Evans, Sensenbrenner and Ryan discussed the tax cuts individuals would receive under the plan with Visa Lighting employees. Evans told them that 92 million Americans would receive an average of $1,083 in 2003 with more to come in the years ahead. Evans went on to say that under Bush’s plan, 46 million couples would receive an average of $1,716 and 34 million families with children would receive an average tax cut of $1,473.

While in Milwaukee, Evans announced a total of $1.4 million in federal funds for Wisconsin to grow its local economy, attract investments and create jobs for local citizens. The money will be distributed to Menasha, Green Bay, Oconto Falls, Spooner and Eau Claire, Wis. The Commerce Department’s Economic Development Administration provided the funds.

Evans also announced the creation of a Minority Business Opportunity Committee (MBOC), the first of its kind in the Milwaukee area. The new committee will develop innovative policies, programs, and strategies to accelerate the level of entrepreneurial activity within the minority business community. The Commerce Department's Minority Business Development Agency provided the funding for the new MBOC.

Evans’ visit to Milwaukee is the fourth stop of a two-day, three-state tour designed to take the President’s plan directly to the people that it benefits the most; small business owners and the people they employ. Yesterday, Evans met with small businesses in Traverse City and Lansing, Mich. to discuss how the President’s plan would add to their bottom line. On Friday morning, Evans met with the owner and employees of Creative Carton in Minneapolis, Minn.