HISPANIC SMALL BUSINESS TELLS SEC. EVANS PRESIDENTS ECONOMIC
PLAN ADDS
TO ITS BOTTOM LINE
U.S. Commerce Secretary Don Evans today reaffirmed President Bushs
commitment to growing the economy during his visit to one of Floridas
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 Bushs 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 Presidents
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 Presidents proposal
lowers Camilo Office Furnitures tax rate from 38% to 35% this
year rather than in 2004. In addition, the Presidents proposal
would allow small businesses like Lopezs 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
Bushs 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 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.
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 Presidents 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 Presidents plan aimed
at assisting Americans currently without jobs and encouraging businesses
to expand.