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CNN Live At Daybreak

President Bush's Plan for Economic Recovery

Aired May 06, 2003 - 06:33   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: President Bush is pledging aid to areas devastated by those storms. He did that in a visit to Arkansas. But he's back in Washington this morning and fighting for his tax cut plan.
Our Suzanne Malveaux is live at her White House post.

Good morning -- Suzanne.

SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Good morning, Carol.

Well, it's really day two of what you might consider a call-your- congressman type of campaign. It is all a part of the White House strategy for the president to go directly to the American people to try to get them to put pressure on lawmakers to pass as big a tax cut plan as possible.

Now, later today, the president is going to be speaking before the U.S. Chamber of Commerce before a group that is going to be expected to be receptive -- that is the Tax Relief Coalition.

Yesterday, the president was in Little Rock, Arkansas, where he spoke before a group of small business-makers, businessmen. And, of course, the president has been trying from the very beginning to get a $726 billion tax cut. The House only willing to pass $550; the Senate even less, perhaps a little bit more than $350 billion.

But this is all a part of the White House strategy to use the president's strength, to use his wartime popularity to convince the American people that he is not only capable of handling the national security, but also the economic security of the country as well.

(BEGIN VIDEO CLIP)

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: It's time for them to move. The debate has started in Washington, D.C. The message I hope you send is the more tax relief, the more work is going to be available for your fellow citizens. I would hope you'd call the members of your congressional delegation to let them know what you think, to let them know your opinion. Democracy can work, particularly when a lot of people get on the phone or by e-mail and just let them know what's on your mind.

(END VIDEO CLIP)

MALVEAUX: Well, the president is not expected to get everything that he wants, Carol, but we do expect to hear from several senators who will move the ball forward, at least a little bit.

Senator Chuck Grassley, who is the chairman of the Senate Finance Committee, is going to be talking about -- he had actually told Lou Dobbs yesterday that a package that would be more than $350 billion but would have to be offset by cuts in spending as well. And he mentioned as well there would be an aggressive component to cutting the corporate dividend tax, but it would not be a 100-percent cut.

We also expect to hear from the Senate minority leader, Tom Daschle, who will present his own plan. We understand that's going to be less than 200 billion. It's going to include tax cuts -- I mean, not tax cuts but rather tax credits, and it is not going to include that cut on the corporate dividend.

So, expect that all of this is going to be worked out in the Conference Committee. The president still pushing very aggressively, however, to get as much as possible -- Carol.

COSTELLO: All right, Suzanne Malveaux, many thanks -- live from Washington, D.C. this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.






Aired May 6, 2003 - 06:33   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: President Bush is pledging aid to areas devastated by those storms. He did that in a visit to Arkansas. But he's back in Washington this morning and fighting for his tax cut plan.
Our Suzanne Malveaux is live at her White House post.

Good morning -- Suzanne.

SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Good morning, Carol.

Well, it's really day two of what you might consider a call-your- congressman type of campaign. It is all a part of the White House strategy for the president to go directly to the American people to try to get them to put pressure on lawmakers to pass as big a tax cut plan as possible.

Now, later today, the president is going to be speaking before the U.S. Chamber of Commerce before a group that is going to be expected to be receptive -- that is the Tax Relief Coalition.

Yesterday, the president was in Little Rock, Arkansas, where he spoke before a group of small business-makers, businessmen. And, of course, the president has been trying from the very beginning to get a $726 billion tax cut. The House only willing to pass $550; the Senate even less, perhaps a little bit more than $350 billion.

But this is all a part of the White House strategy to use the president's strength, to use his wartime popularity to convince the American people that he is not only capable of handling the national security, but also the economic security of the country as well.

(BEGIN VIDEO CLIP)

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: It's time for them to move. The debate has started in Washington, D.C. The message I hope you send is the more tax relief, the more work is going to be available for your fellow citizens. I would hope you'd call the members of your congressional delegation to let them know what you think, to let them know your opinion. Democracy can work, particularly when a lot of people get on the phone or by e-mail and just let them know what's on your mind.

(END VIDEO CLIP)

MALVEAUX: Well, the president is not expected to get everything that he wants, Carol, but we do expect to hear from several senators who will move the ball forward, at least a little bit.

Senator Chuck Grassley, who is the chairman of the Senate Finance Committee, is going to be talking about -- he had actually told Lou Dobbs yesterday that a package that would be more than $350 billion but would have to be offset by cuts in spending as well. And he mentioned as well there would be an aggressive component to cutting the corporate dividend tax, but it would not be a 100-percent cut.

We also expect to hear from the Senate minority leader, Tom Daschle, who will present his own plan. We understand that's going to be less than 200 billion. It's going to include tax cuts -- I mean, not tax cuts but rather tax credits, and it is not going to include that cut on the corporate dividend.

So, expect that all of this is going to be worked out in the Conference Committee. The president still pushing very aggressively, however, to get as much as possible -- Carol.

COSTELLO: All right, Suzanne Malveaux, many thanks -- live from Washington, D.C. this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.