President Bush has signed legislation designed to give the U.S. economy a boost. VOA White House correspondent Paula Wolfson reports the stimulus package includes tax rebates and incentives for business investment.
The president signed the measure at a White House ceremony attended by lawmakers from both major political parties who helped get the bill through Congress in record time.
"A lot of folks in America were probably saying it is impossible for those of us in Washington to find common ground and to reach compromise on important issues," he said. "I didn't feel that way. I know the leaders didn't feel that way. And as a result we have come together on a single mission and that is to put the peoples' interest first."
The president acknowledged that the economy has hit a "rough patch." He said it has had to absorb shocks such as corporate scandals and the high cost of waging war. But he went on to stress, as he has many times in the past, that the foundation of the economy is strong.
"In a dynamic market economy there will always be times when we experience uncertainties and fluctuations," he added. "So long as we pursue pro-growth policies that put faith in the American people, our economy will prosper and continue to be the marvel of the world."
The two-year stimulus package totals $168 billion, with most of the money, $152 billion, set aside for 2008. President Bush said it is just large enough to have an impact. He said the measure is robust, temporary, and designed to put money into the hands of American workers and businesses.