Signs Stimulus Bill During Live Weekly Radio Address
The Rose Garden
The White House
March 9, 2002
10:06 A.M. EST
Good morning. I'm speaking to you live from the Rose Garden, where I'm about
to sign legislation that will give short-term help to workers who have lost
their jobs, and provides long-term stimulus to create more jobs across our country.
I want to thank the Vice President. I want to thank Speaker Hastert, Senator
Daschle, Senator Lott, members of the Congress for joining me today as I sign
this important piece of legislation. Many contributed to the success of this
bill, but none more than the Speaker and Chairman Bill Thomas.
Also here today are working men and women, small business people who make this
economy run. We're seeing some encouraging signs in the economy, but we can't
stand by and simply hope for continued recovery. We must work for it. We must
make sure that our recovery continues and gains momentum. We want a recovery
that is broad enough and strong enough to provide jobs for all our citizens.
The terrorist attacks of September the 11th were also an attack on our economy,
and a lot of people lost their jobs. Since then, many laid off workers have
been relying on unemployment benefits, which normally end after 26 weeks. The
bill I sign this morning will allow the extension of jobless benefits by another
13 weeks, and even longer in states with high unemployment rates. This will
allow those who lost their jobs in the recession, or in the aftermath of the
September the 11th attacks more time to pay their bills and support their families
while they look for work.
And in order for people to find jobs, businesses need to be hiring. So this
new law will provide tax incentives for companies to expand and create jobs
by investing in plant and equipment. This measure will mean more job opportunities
for workers in every part of our country, especially in manufacturing and in
high tech and for those who work for small businesses.
This bill will also stimulate economic growth by extending net operating loss
rules and by granting some alternative minimum tax relief. The city of New York
suffered a great tragedy on September the 11th, and still faces major economic
consequences. The bill I sign into law today provides over $5 billion in tax
relief to aid in the recovery of lower Manhattan by helping businesses to get
back on their feet so they can start hiring again. The people of New York have
shown great courage, perseverance and America stands with them.
This Monday marks six month since the attack on America. For the families of
the victims these have been six months of sorrow, and America will never forget
In our war on terror, these have been six months of determined action. We have
destroyed terrorist camps, we've disrupted terrorist finances, we've toppled
a terrorist regime and brought thousands of terrorists to justice. We are strengthening
our nation's defenses against attack. And, today, we are acting to help workers,
we're acting to create jobs and we're acting to strengthen our economy
Thank you all for coming, and it is now my honor to sign this important piece
of legislation. (Applause.)