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Archived News Release — Caution: Information may be out of date.
OPA News Release: [07/29/2003]
Contact Name: Ed
Frank
Phone Number: (202) 693-4676
Chao, Snow, Evans Visit Wisconsin on the Jobs &
Growth Tour
Today, Labor Secretary Elaine L. Chao, Treasury Secretary John Snow and
Commerce Secretary Don Evans visited Wisconsin on their “Jobs & Growth
Tour” to discuss the state of the economy and the recently enacted jobs
and growth plan—as well as other efforts by President Bush to create jobs,
strengthen the economic recovery and increase workers’ standards of
living.
Today, during the “Jobs and Growth Tour” Secretaries Chao,
Snow and Evans participated in town-hall style meetings, roundtables, and
tours. They met with families, workers, manufacturers, local business leaders,
economic officials, small-business owners, seniors and individual investors.
They toured the Harley Davidson Powertrain Operations Plant in Wauwatosa, WI;
participated in a small Business Roundtable event at Conger Industries in Green
Bay, WI; and held a child tax credit/marriage penalty tax event at
Culver’s of Wausau in Mosinee, Wisc.
“We had a good day meeting and talking with the working men and
women in Wisconsin who are the backbone of our economy and our country,”
stated Labor Secretary Elaine L. Chao. “They are the ones who will benefit
most by the President’s Jobs and Growth plan which will help stimulate new
economic growth and create more jobs.”
“We are seeing first-hand the signs that President Bush’s Jobs
and Growth plan is taking root and beginning to have a positive effect on the
economy,” stated Treasury Secretary Snow. “It has been great to meet
the workers, families and small business owners in Wisconsin that are working
hard to create more jobs and help the economy grow. With the arrival of the
child credit checks starting this week, families in Wisconsin will have more
money to use as they see fit—they can use it for back to school supplies,
saving for their child’s education, or for a family vacation.”
“Secretaries Snow, Chao and I are traveling in Wisconsin so we can
collect real-time economic information from real American people,” said
Commerce Secretary Evans. “Today’s leg of the Jobs and Growth tour
allowed us to hear from scores of workers, small business owners and families
about the economy and reinforced President Bush’s belief that the strength
of the American economy lies in our people and our factories, not within the
halls of Washington D.C.”
Many hardworking Wisconsin families and small businesses benefit greatly
from the Jobs and Growth Act. As an example:
- More than 1.8 million
taxpayers in Wisconsin will have lower income tax bills in 2003 under the Jobs
and Growth Tax Relief Reconciliation Act of 2003.
- 405,000 business taxpayers
can use their tax savings to invest in new equipment, hire additional workers,
and increase pay.
- Nearly 1.5 million married
couples and single filers will benefit from the acceleration to 2003 of the
expansion of the 10-percent bracket scheduled for 2008.
- More than 495,000
taxpayers in Wisconsin will benefit from the acceleration to 2003 of the
reductions in income tax rates in excess of 15-percent scheduled for 2004 and
2006.
- More than 760,000 married
couples in Wisconsin will benefit from the acceleration to 2003 of provisions
that increase the standard deduction for joint filers to double the amount for
single filers and increase the width of the 15-percent bracket to twice the
width for single filers. These two provisions were scheduled to phase in
between 2005 and 2009.
- More than 515,000 married
couples and single parents in Wisconsin will benefit from the acceleration to
2003 of the increase in the child tax credit from $600 to $1,000 that was
scheduled to phase in between 2005 and 2010.
- 510,000 taxpayers in
Wisconsin will benefit from the reduced tax rates on capital gains and
dividends.
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Archived News Release — Caution: Information may be out of date.
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