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Bush Renews Threat to Veto Bloated Spending Bill NewsMax.com Wires WASHINGTON -- Preisdent Bush on Friday renewed his threat to veto any war and hurricane spending bill that exceeds his request and urged Congress to finalize an agreement to extend tax cuts.
"Raising taxes would hurt small business," Bush said at Frager's Hardware on Capitol Hill. "Raising taxes would hurt consumers. Raising taxes would particularly hurt working people."
Bush spoke in the 86-year-old store's garden center as part of his effort to convince Americans that the economy is robust and to highlight 138,000 jobs added to business payrolls across America in April. While there, he picked up a couple of chew toys for his dog, Barney.
He celebrated an unemployment rate that remained at 4.7 percent. Yet the April report showed that the level of new hiring slowed significantly, leading economists to believe that the economy is headed for a much smaller pace of growth than in the first quarter. Story Continues Below
"Small business is doing well," the president said.
He said that "one of the things that Congress has to be mindful of is that the economic growth we're seeing - the strong economic growth - is dependent on good tax policy."
Senate and House negotiators have run into roadblocks over a $70 billion tax package that would extend tax breaks for investors and protect 15 million middle-income families from a tax designed for the wealthy.
On the spending legislation, meanwhile, the Senate on Thursday passed a $109 billion bill to pay for the war in Iraq and hurricane relief that also included add-ons which made it some $14 billion more expensive than Bush has said he is willing to accept.
The president plans to veto any bill exceeding his $92.2 billion request for the war and hurricane relief plus an additional $2.3 billion to prepare for a possible bird flu pandemic.
© 2006 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. Editor's note: Read more on this subject in related Hot Topics:
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