MILWAUKEE SMALL BUSINESS TELLS EVANS THAT ECONOMIC FORECAST IS BRIGHTER
BECAUSE OF PRESIDENTS ECONOMIC PLAN
U.S. Secretary of Commerce Don Evans, calling the Presidents
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 plans 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 Bushs
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 Presidents
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 Presidents plan to grow this economy and
create new, better paying jobs for the American people, said
Evans. By lowering taxes, the Presidents 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 Bushs 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
Departments 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 Presidents 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 Presidents plan would
add to their bottom line. On Friday morning, Evans met with the owner
and employees of Creative Carton in Minneapolis, Minn.