(Archived Content)
U.S. Treasury Secretary John W. Snow will visit Grand Rapids, Michigan on Friday, August 27 to meet with local business leaders and discuss the President’s efforts to strengthen the economy and create jobs. He will be joined by Congressman Vernon Ehlers.As a result of the President’s economic leadership, we have overcome a recession and seen 11 straight months of job creation, totaling nearly 1.5 million new U.S. jobs since August 2003, said Secretary Snow. The President’s tax reform policies have ensured that more than 3.6 million Michigan taxpayers will have lower income tax bills in 2004.During this trip to Michigan, Secretary Snow also will discuss the Administration’s efforts to control health care costs, reduce frivolous lawsuits and ensure that America has reliable and affordable sources of energy. While the economy is on solid footing, we are not satisfied and there is still more work to be done. We need to continue to push for pro-growth policies that will create jobs and raise standards of living, Secretary Snow said.Recent indicators show that President Bush’s economic policies continue to move the economy forward. According to the Labor Department, the national unemployment rate declined to 5.5% in July – down 0.8 percentage point from a peak of 6.3% in June 2003 and the lowest rate since October 2001. At 5.5%, the unemployment rate is below the average of the 1970s, 1980s, and 1990s. Employment over the last year was up in 46 of the 50 states and the unemployment rate was down in all regions and in 47 of the 50 states.The following events are open to the media, which must present media credentials or photo ID:Friday, August 27Meeting with Local Business Leaders7:30 am EDTGrand Rapids Chamber of Commerce111 Pearl St., NWGrand Rapids, MI Media should arrive by 7:00 amTour and Roundtable Discussion on Health Savings Accounts10:00 am EDTWest Michigan Piano3600 29th St., SEGrand Rapids, MI Media should arrive by 9:30 am**A brief press availability will occur immediately following the event