Press Release

Gutierrez Statement on Final Second Quarter GDP Report

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the final second quarter real gross domestic product (GDP) report, which showed that the American economy grew at an annual rate of 2.6 percent in the second quarter of 2006:

“Today’s announcement shows the U.S. economy continues to grow, with 19 consecutive quarters of steady and sustained growth, demonstrating the strength of our economy overall. Today’s GDP report highlights how the administration’s job creation policies have allowed the U.S. to remain the fastest growing economy among the G-7 countries the past twelve months.

“The President’s trillion dollar tax cuts have helped small business to make more money, motivated entrepreneurs to start their own business and increased America’s ability to compete in the global economy.

“To maintain the environment that has helped American businesses create the most vibrant economy in the world, we need to make the tax cuts permanent. Raising taxes is simply not an option if we want businesses to keep flourishing and creating jobs.”