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American Morning
Next Week Bush Plans to Unveil Stimulus Package
Aired January 03, 2003 - 08:02 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.
LEON HARRIS, CNN ANCHOR: President Bush says that he thinks the economy is basically strong. But next week he plans to unveil a stimulus package with a special focus on creating jobs. Aides are saying that these tax cuts that will be included are going to be part of the plan and the question is now can the incentives help to reboot the economy?
Dana Bash checks in now from Crawford, Texas, near the president's ranch. Let's get the word from there this morning -- good morning.
DANA BASH, CNN CORRESPONDENT: Good morning, Leon.
Well, you're right, the president did say yesterday when speaking to reporters that the economy is resilient, that the economy is strong, especially given the terrorist attacks and the corporate scandals that have plagued America over the past couple of years.
But this White House does understand politics and the importance of the economy in politics. So the president said that next week he will offer what he says is a stimulus plan to help jump start the economy. Now, part of that plan, we believe that's likely to be in that plan are tax cuts on dividends, acceleration of some of the 2001 tax cuts, tax breaks for businesses and extending unemployment insurance.
Now, aides say that speech on Tuesday will focus on how his plan helps all Americans, especially the unemployed. He will really focus on that and it will be followed, aides say, by speeches by members of his cabinet and complemented by government studies showing how much his plan does help kind of regular Americans, so to speak.
It's all an effort to blunt Democratic criticism, which they know will come, that the president really wants to help the rich and not the needy. The president actually addressed that when speaking to reporters yesterday.
(BEGIN VIDEO CLIP)
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: I'm concerned about all people and I don't view the politics of -- you know, I understand the politics of economic stimulus. If some would like to turn this into class warfare, I, that's not how I think.
(END VIDEO CLIP)
BASH: But the speech does come the same day that Congress returns to work. That's next Tuesday. So you can be sure, Leon, there will be no shortage of criticism from Democrats -- Leon.
HARRIS: All right, you got it.
Thanks, Dana.
Dana Bash reporting live this morning from the Crawford, Texas ranch of President Bush.
Take care.
We'll see you soon, all right?
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 January 3, 2003 - 08:02 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LEON HARRIS, CNN ANCHOR: President Bush says that he thinks the economy is basically strong. But next week he plans to unveil a stimulus package with a special focus on creating jobs. Aides are saying that these tax cuts that will be included are going to be part of the plan and the question is now can the incentives help to reboot the economy?
Dana Bash checks in now from Crawford, Texas, near the president's ranch. Let's get the word from there this morning -- good morning.
DANA BASH, CNN CORRESPONDENT: Good morning, Leon.
Well, you're right, the president did say yesterday when speaking to reporters that the economy is resilient, that the economy is strong, especially given the terrorist attacks and the corporate scandals that have plagued America over the past couple of years.
But this White House does understand politics and the importance of the economy in politics. So the president said that next week he will offer what he says is a stimulus plan to help jump start the economy. Now, part of that plan, we believe that's likely to be in that plan are tax cuts on dividends, acceleration of some of the 2001 tax cuts, tax breaks for businesses and extending unemployment insurance.
Now, aides say that speech on Tuesday will focus on how his plan helps all Americans, especially the unemployed. He will really focus on that and it will be followed, aides say, by speeches by members of his cabinet and complemented by government studies showing how much his plan does help kind of regular Americans, so to speak.
It's all an effort to blunt Democratic criticism, which they know will come, that the president really wants to help the rich and not the needy. The president actually addressed that when speaking to reporters yesterday.
(BEGIN VIDEO CLIP)
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: I'm concerned about all people and I don't view the politics of -- you know, I understand the politics of economic stimulus. If some would like to turn this into class warfare, I, that's not how I think.
(END VIDEO CLIP)
BASH: But the speech does come the same day that Congress returns to work. That's next Tuesday. So you can be sure, Leon, there will be no shortage of criticism from Democrats -- Leon.
HARRIS: All right, you got it.
Thanks, Dana.
Dana Bash reporting live this morning from the Crawford, Texas ranch of President Bush.
Take care.
We'll see you soon, all right?
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
