HISPANIC SMALL BUSINESS TELLS SEC. EVANS PRESIDENT’S ECONOMIC PLAN ADDS
TO ITS BOTTOM LINE

U.S. Commerce Secretary Don Evans today reaffirmed President Bush’s commitment to growing the economy during his visit to one of Florida’s 138, 000 minority owned small businesses. Evans and U.S. Rep. Mario Diaz-Balart (Fla.-25) met with Camilo Lopez III, Executive Vice President of Camilo Office Furniture, a small manufacturer of high quality home and business furniture, and heard first hand the benefits that his small businesses would realize under President Bush’s economic growth package.

In their meeting, Lopez, told Evans that he hopes to purchase much-needed equipment and hire new employees as a result of the President’s economic growth plan which Evans lauded as “the right plan at the right time” for the American economy.

Lopez also told Evans that two provisions of the plan would benefit his business’ bottom line. Once enacted, the President’s proposal lowers Camilo Office Furniture’s tax rate from 38% to 35% this year rather than in 2004. In addition, the President’s proposal would allow small businesses like Lopez’s to increase the amount it can write-off for equipment purchases from $25,000 to $75,000. According to Lopez, this would give him greater confidence to make substantial equipment purchases now, rather than waiting. He told Evans that in his business, buying new equipment means hiring new workers to operate that equipment, and added that thanks to President Bush’s plan, he would have the funds to do both.

“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.” Evans went on to say that small businesses create more than 70% of new jobs in America.

Evans’ visit here is the third stop of a two-day, three-state tour highlighting the benefits of the President’s plan to deliver aid to small businesses and American workers. Yesterday, Evans was in Dayton, Ohio, and Paducah, Ky., where he met with unemployed workers and employees to discuss elements of the President’s plan aimed at assisting Americans currently without jobs and encouraging businesses to expand.