Washington, Apr 24, 2003 - Today, President will travel to Ohio in an attempt to sell his Administration’s misguided economic plan based on tax cuts to the wealthy. The Administration’s policy is bad for Ohio and the nation, Congressman Dennis J. Kucinich (D-OH) stated today.

Kucinich, Co-Chair of the Congressional Progressive Caucus, issued the following statement:

“Like most of the nation, Ohio’s economy is hurting. Since the beginning of this Administration Ohio has lost 167,800 jobs or 3.06% of the statewide employment. In my hometown of Cleveland, since January of 2001, we have lost 53,900 jobs and have an unemployment rate of 6.8%. In Canton, where the President will visit today, the unemployment rate is 7.1%. Currently statewide in Ohio, under this Administration’s watch, the unemployment rate is 6% and over 350,000 people are without jobs.

“It is clear this Administration’s misguided economic policies have failed Ohio and failed the nation. Addressing our nation’s ailing economy must be the top priority of this Administration and the Congress. The President’s economic strategy of tax cuts to the wealthiest one percent, and aggressive foreign policy, will make it impossible for our economy to recover and will lead to continued cuts in important domestic needs. Already, this Administration’s policy has led to cuts in spending on important domestic needs such as education, health care, veterans benefits, child care and led to sky high state budget deficits. Ohio, alone, is facing a projected state budget deficit of $2 billion in FY ’04.

“Nationwide, since the President was inaugurated, our economy has lost 2.6 million jobs, an average of 73,400 jobs a month, and 8.4 million Americans are unemployed. Even with 8.4 million Americans unemployed, the plan, the President has come to Ohio today to sell, will produce only 190,000 jobs in 2003. This is simply unacceptable.

“It is clear that the Administration’s flawed economic policy is out of step with the needs of Ohio and our nation. Most Ohioans will not benefit from the Administration’s tax cut proposal. Under the President’s plan, 1,580,900 Ohioans will receive no tax cut at all. And another million will get a tax cut of less than $100.

“The Administration’s tax plan calls for speeding up and making permanent many of the tax cuts enacted in 2001, along with the elimination of individual income taxes on corporate-source dividends and capital gains. These tax cuts will not stimulate the economy because they are slow to phase in and invest money in the wrong areas.

“In addition, Ohio’s economy has been decimated by NAFTA. This Administration wants to expand NAFTA, when any sensible economic program for Ohio would repeal it.

“The President’s economic record in Ohio, and the nation, is one of high unemployment, factory closings and corporate bankruptcies. Ohio, and our nation, deserve better. To stimulate our economy takes more than tax cuts to the wealthy. It requires federal spending, progressive tax cuts to people who need the money now, and real efforts to create new high paying jobs.”