GRAND RAPIDS — U.S. Treasury Secretary John W. Snow will visit Grand Rapids tomorrow to meet with local business leaders and discuss President Bush’s efforts to strengthen the economy and create jobs. He will be joined by Congressman Vernon Ehlers, R-Grand Rapids.
“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 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, Snow also will discuss the Bush 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,” he said.
Snow said recent indicators show that President Bush’s economic policies continue to move the economy forward. According to the U.S. Department of Labor, the national unemployment rate declined to 5.5 percent in July — down eight-tenths of a point from a peak of 6.3 percent in June 2003 and the lowest rate since October 2001.
At 5.5 percent, the unemployment rate is below the average of the 1970s, 1980s, and 1990s, he said. 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.
Snow plans to meet with local business leaders at 7:30 a.m. at the Grand Rapids Area Chamber of Commerce, and then take part in a roundtable discussion on health savings accounts at 10 a.m. at West Michigan Piano.