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OPA News Release: [04/15/2003]
Contact Name: Kathleen Harrington
Phone Number: (202) 693-4676

U.S. Secretary of Labor Elaine L. Chao Promotes President’s Jobs and Growth Plan to Illinoisans

WASHINGTON—U.S. Secretary of Labor Elaine L. Chao today promoted the positive impact President George W. Bush’s Jobs and Economic Growth Plan will have on millions of Illinois workers, small business owners, families and seniors in a “Tax Day” speech to the City Club of Chicago.

“The President often says one person out of work is one person too many. That’s why it’s more important than ever before for Congress to enact the President’s Jobs and Growth Plan. It will jump-start the economy by pumping billions into the economy, generate job growth and reduce the tax burden for every American,” said Chao. “For the sake of America’s workers and their families, we need the President’s plan passed now.”

Once enacted, President Bush’s plan would benefit four million Illinois taxpayers making it the fifth largest beneficiary of the President’s plan after California, Texas, New York, and Florida. In addition, under the President’s plan (see fact sheet for additional benefits):

• 1.5 million Illinois married couples would see a significant savings every year with the elimination of the marriage penalty;
• 1.1 million families in Illinois would have an additional $400 per child to spend or save annually with an increase in the child tax credit; and
• 1 million Illinois small business owners would receive an average $2,042 to invest this year by tripling the equipment expense limit.

The President’s plan has three main goals: encourage consumer spending that will continue to boost the economic recovery and create jobs; promote investment by individuals and businesses that will lead to economic growth and job creation; and, deliver critical help to unemployed citizens. The proposal, which is pending before Congress, would speed the 2001 tax cuts to accelerate the pace of the 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 and provide help for displaced workers to get back on the job.

For more information on the President’s plan please go to www.whitehouse.gov. For more information on the Department of Labor’s unemployment and re-employment programs please go to www.dol.gov.

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