CREATING JOBS AND OPPORTUNITY FOR WORKING FAMILIES AND BUSINESSES Reducing
the Tax Burden on American Families. The Bush tax relief measures are
working. Despite inheriting the Clinton recession of 2001, coping with the
devastating economic impact of the terrorist attacks of September 11 (which
resulted in a 3-month loss of 1.2 million jobs) and pursuing a global war on
terror, the President¹s economic and tax policies are growing our economy.
The economy has added over 1.5 million jobs since August 2003, the home
ownership rate, at 69.2%, is the highest ever, economic growth over the past
year is as fast as any in nearly twenty years, and 111 million American
families will net an average of $1,586 in tax savings this year. The
President¹s tax relief package also strengthens families by ending the death
tax which is the tax on cash and property received by survivors following
the death of a family member. This tax is set to expire in 2010 but will be
re-instated in 2011 unless Congress acts to make the repeal permanent.
Improving Healthcare Access and Affordability. President Bush has urged
Congress to protect America's patients, doctors, and hospitals from the
staggering costs of out-of-control lawsuits by passing important medical
liability reforms. President Bush recognizes that medical liability premiums
are skyrocketing and contributing to the rising cost of health care, forcing
many physicians to give up treating patients. The President proposes the
national adoption of proven minimum standards to make the medical liability
system more fair, predictable, and timely. This proposal includes a $250,000
cap on non-economic damages, and a limit on punitive damages to reasonable
amounts and cases where they are justified.
Supporting Small Business. The Bush Administration supports tax incentives
to promote small businesses growth. Last year¹s tax relief bill included a
provision raising the limit on deductions for new equipment purchased by
small business owners from $25,000 to $100,000. President Bush has worked to
keep the cost of health insurance down and allow small businesses to offer
health insurance to their employees, the Bush Administration supports
association health plans that will allow small businesses to pool risk and
have a better negotiation policy with those who offer insurance.
PROTECTING TRADITIONAL VALUES AND PROMOTING EDUCATION Supporting America¹s
Public Schools. Through the No Child Left Behind Act, signed into law by
President Bush in January 2002, historic levels of funding and support have
been combined with an unprecedented commitment to achieving high standards
and accountability to ensure that America¹s schools are producing real
results for every child in America. The landmark No Child Left Behind Act
helps parents, educators and children by measuring student performance,
providing information for parents, ensuring more resources for schools and
strengthening teacher quality. President Bush has requested unprecedented
funding increases for education with his overall Fiscal Year (FY) 2005
budget which represents a 49% funding increase for elementary and secondary
education and a 36% increase in total Department of Education funding since
FY 2001.
Defending the Sanctity of Marriage. Marriage is a sacred institution, and
its protection is essential to the continued strength of our society. The
President is defending the sanctity of marriage against activist judges who
are attempting to redefine it. He will stand behind the Defense of Marriage
Act and encourage Indian American family traditions and values.
FREE TRADE AND OUTSOURCING The Bush Administration is working to
markets around the world in order to increase exports, reduce prices for
American consumers and create high-paying American jobs. The President has
opposed economic isolationism and failed policies that put up ³walls and
barriers between the United States and the rest of the world.²
Outsourcing. The Bush Administration believes the best way to help
dislocated workers is through worker assistance, not by erecting barriers to
trade and investment.
BUILDING U.S.-INDIA RELATIONS President Bush and his Administration have
worked hard to build strong bilateral relations with India. Because
President Bush understands India¹s potential to become one of the great
democratic powers of the 21st century, he has worked to transform the U.S. -
India relationship. In January 2004, President Bush and Prime Minister
Vajpayee announced the ³Next Steps in Strategic Partnership² between the
United States and India, a new effort to further deepen and accelerate
cooperation between the two countries in the areas of high technology trade,
civilian space activities, civilian nuclear activities, and missile defense.
Bilateral trade between the countries is the strongest ever. The
Administration has also increased trade with India. In fact, bilateral trade
between the U.S. and India increased from $15.9 billion in 2002 to nearly
$18 billion in 2003, with U.S. exports to India increasing by 22%, the
largest increase ever. 3 The two countries have also qualitatively
transformed their defense and security relationship, with the U.S. and
Indian militaries regularly holding joint exercises, meeting at senior
levels and sharing information. Just five years ago, this historic level of
cooperation that we have now between our militaries was unthinkable.