President Bush is calling for another big package of tax cuts. It is part of his plan to stimulate the U.S. economy in the wake of the terrorist attacks on New York and Washington.
The president wants Congress to approve about $60 billion in additional tax cuts for individuals and businesses. "To make sure that the economy gets the boost it needs, the Congress ought to come together quickly and accept the ideas that I have just laid out," he said.
He noted that the cost of additional tax relief would be roughly equal to the amount of money Congress has already approved to help pay those hardest hit by the September 11 terrorist attacks. "In order to stimulate the economy, Congress doesn't need to spend any more money," he went on to say. "What they need to do is cut taxes."
Negotiations with Congress are already underway, and some key Senators say an economic stimulus package could be ready for consideration in a few weeks.