Media Contact: Christine Glunz, 202.225.3072

Washington, DC – U.S. Representative Zoe Lofgren (D-San Jose) issued the following statement on President Bush’s visit to Silicon Valley today:

“When President Bush came to Santa Clara County last spring, he told us that one million new jobs would be created by the year 2004[1].  Now three years into the Bush presidency and months into 2004, California alone has lost 300,000 jobs since Bush took office with over one million unemployed statewide.

“The unemployment rate in San Jose is at 6.4 percent and one in three households in Santa Clara County has experienced a layoff since Bush took office.  Perhaps that is why President Bush is not going to stop and talk with the citizens of Santa Clara County, he would rather raise money than justify his misguided economic policies. 

“The Bush economic “stimulus” package was dedicated to tax reductions for the wealthy and a tax cut on corporate dividends, which does nothing for the technology industry, since most tech companies do not pay dividends.  If the President wants to do something for Silicon Valley, he should make the R&D tax credit permanent and increase spending on education, especially math and sciences.  After touting his No Child Left Act, President Bush has failed to fund these reforms. 

“President Bush is out of touch with the average Californian.  He has cut education funding, making resources less accessible for our local school districts.   The President hasn’t supported the extension of unemployment benefits, has left thousands of Californians without health insurance and his environmental record has been consistently disappointing for our state.  Recent estimates show that the Bush Administration’s FY05 budget proposal could shortchange California by more than $20 billion if enacted. 

“Californians do not want to continue down the same road of reckless leadership and failed policies that focus only on the privileged few.  President Bush should be focusing on creating jobs for the millions people who are out of work, keeping the country secure, making health care affordable and accessible and providing a quality education for our children rather than raising still more political campaign money.”