February 28, 2006
JS-4076

Statement of Treasury Secretary John W. Snow
On Gross Domestic Product Growth

 "The American economy continues to be on a very solid path of economic growth and job creation, with low unemployment claims, strong retail sales, orders for core capital goods continuing to grow at a robust rate and today's upward revision of fourth-quarter 2005 GDP growth.

"With so much good economic news so far this quarter, it is no surprise that private forecasters expect solid growth for the first quarter of this year.

"The longer this strong growth path continues, the more Americans will be finding jobs, so it is critically important that Congress extend the lower tax rates that made this sustained growth possible. Lower rates on investment capital and income have helped create over four and a half million new jobs and raise living standards. Now is not the time to raise taxes."