Business Roundtable applauds President Bush's bold State of the Union agenda

2 February 2005

WASHINGTON. Business Roundtable President John J. Castellani hailed President Bush's State of the Union address this evening, saying it promoted innovative, pro-growth approaches that will benefit all Americans.

"The President's speech articulated the right agenda, at the right time, for the right reasons β€”to grow this economy and safeguard the economy in the future," said Castellani.

"Our highest priority is fostering strong economic growth that will result in more jobs for American workers, and the President spoke to that goal."

Castellani noted that several of the President's priorities resonated with those outlined by the Roundtable:

"We are focused, as is the President, in reducing costs to business and consumers by curbing lawsuit abuse," he said. "This abuse costs our economy $246 billion per year, and has increased a hundredfold over the past 50 years. The real tragedy is that those harmed get less than 50 cents on the dollar in today's court system.

"We will work to strengthen the financial security of our nation's retirees by reforming Social Security, which is safe for current seniors but is in danger for future generations. The Roundtable believes that reforms should strengthen Social Security's long-term financial foundation, protect benefits for current retirees and those near retirement, and provide the option of personal accounts to younger workers.

"We look forward to improvement in the health care marketplace through successful implementation of the Medicare Modernization Act, through improving information technology and creating incentives for disease protection and wellness.

"These priorities β€” and efforts to continue to strengthen the education of our nation's students, improve homeland security, and preserve and protect the environment β€” are critical components of a strong and competitive U.S. economy. We look forward to working with the Administration and Congress on these important objectives."

Business Roundtable (www.businessroundtable.org/) is an association of chief executive officers of leading corporations with a combined workforce of more than 10 million employees in the United States and $4 trillion in revenues. The chief executives are committed to advocating public policies that foster vigorous economic growth and a dynamic global economy.

Source: Business Roundtable

CONTACT: Tita Freeman of Business Roundtable, +1-202-496-3269, or

Website: www.businessroundtable.org/

The full State of the Union address: www.whitehouse.gov/stateoftheunion/2005/index.html


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