President Bush spoke in Des Moines, Iowa, Monday before he signed into law the fourth tax cut of his presidency. A transcript, joined in progress, follows.
BUSH: It also protects millions of families from having to pay the alternative minimum tax in 2005. That tax was designed over three decades ago to make sure wealthy Americans paid their fair share of taxes. But now it affects middle-income families.
This bill will also increase the child credit refunds for almost 7 million low-income families in the 2004 tax year.
Overall, 94 million Americans will have a lower tax bill next year, including 70 million women and 38 million families with children
The money they keep will make it easier to save for their retirement or their children's education, invest in a home or a small business, or pay off credit card debts.
One of those families is the Hinz (ph) family from Clive, Iowa.
Thank you all for coming.
(APPLAUSE)
It's a special day for Mike and Shara (ph), not because they're with the president or with Chairman Grassley, but because it's their 13th wedding anniversary.
(APPLAUSE)
Theirs is a typical story. See, last year they received a child tax credit check for $1,600 for their four children. And under all the tax relief we passed, they saved about $2,800 last year.
With this extra money they bought a wood burning stove to reduce their home heating costs. They made a decision for their family. They also made home repairs and improvements. They took the family on a vacation to Minnesota.
Next year when you get your check you may want to come to Texas.
(APPLAUSE)
