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CNN Live Saturday

Bush Prepares for Busy Week Ahead

Aired May 10, 2003 - 18:39   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.


FREDRICKA WHITFIELD, CNN ANCHOR: President Bush is in New Mexico for a little breather. He is preparing for a busy week ahead, including a series of appearances to promote his tax cut plan and a likely showdown in the Senate. CNN's Chris Burns reports.
(BEGIN VIDEOTAPE)

CHRIS BURNS, CNN WHITE HOUSE CORRESPONDENT (voice-over): President Bush tees off during an R&R weekend in New Mexico. Before he tees off another offensive -- one last push to turn up the heat on a Senate reluctant to accept a heftier tax cut he says will stimulate job creation.

Riding his post-war popularity, Mr. Bush has already hit at least a half dozen states, and aims at New Mexico, Nebraska and Indiana on Monday and Tuesday.

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: I urge the Senate to complete this work next week so the House and Senate can work out their different versions and get a tax relief bill to my desk as soon as possible.

BURNS: The Senate wants to cut Mr. Bush' original proposal by more than half, to $350 billion over 10 years. The White House appears trying to use leverage from its victory in the House last week, clinching a $550 billion cut. It reduces the tax on stock dividends to 15 percent. A compromise where the president's call for the tax to be scrapped altogether.

The Democrats call the tax plan another budget busting gift to rich investors.

UNIDENTIFIED MALE: We need to understand, the administration's economic proposals will result in even larger deficits, a bigger mountain of debt, and more borrowing to pay our bills.

BURNS: Democrats note unemployment has risen, despite Mr. Bush's 2001 one tax cut, $1.3 trillion over 10 years.

(END VIDEOTAPE)

BURNS: President Bush argues that the economy has been hit hard by terrorism, war and recession, and that the latest 6 percent unemployment figure is yet another reason to push through his tax cut. He says the House version will create as many as one million jobs by the end of next year. Just in time for the next presidential election -- Fredricka.

WHITFIELD: All right, thanks a lot, Chris.

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 10, 2003 - 18:39   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
FREDRICKA WHITFIELD, CNN ANCHOR: President Bush is in New Mexico for a little breather. He is preparing for a busy week ahead, including a series of appearances to promote his tax cut plan and a likely showdown in the Senate. CNN's Chris Burns reports.
(BEGIN VIDEOTAPE)

CHRIS BURNS, CNN WHITE HOUSE CORRESPONDENT (voice-over): President Bush tees off during an R&R weekend in New Mexico. Before he tees off another offensive -- one last push to turn up the heat on a Senate reluctant to accept a heftier tax cut he says will stimulate job creation.

Riding his post-war popularity, Mr. Bush has already hit at least a half dozen states, and aims at New Mexico, Nebraska and Indiana on Monday and Tuesday.

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: I urge the Senate to complete this work next week so the House and Senate can work out their different versions and get a tax relief bill to my desk as soon as possible.

BURNS: The Senate wants to cut Mr. Bush' original proposal by more than half, to $350 billion over 10 years. The White House appears trying to use leverage from its victory in the House last week, clinching a $550 billion cut. It reduces the tax on stock dividends to 15 percent. A compromise where the president's call for the tax to be scrapped altogether.

The Democrats call the tax plan another budget busting gift to rich investors.

UNIDENTIFIED MALE: We need to understand, the administration's economic proposals will result in even larger deficits, a bigger mountain of debt, and more borrowing to pay our bills.

BURNS: Democrats note unemployment has risen, despite Mr. Bush's 2001 one tax cut, $1.3 trillion over 10 years.

(END VIDEOTAPE)

BURNS: President Bush argues that the economy has been hit hard by terrorism, war and recession, and that the latest 6 percent unemployment figure is yet another reason to push through his tax cut. He says the House version will create as many as one million jobs by the end of next year. Just in time for the next presidential election -- Fredricka.

WHITFIELD: All right, thanks a lot, Chris.

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