I want
to thank the members of Congress who have joined us here, and
those who haven't joined us here, for passing this important piece
of legislation. I want to thank Trent Lott, from Mississippi, for
being here. Trent Lott invited me one time to his home, right
there on the Gulf Coast of Mississippi. It no longer exists. He
knows firsthand what it means to live through one of these
devastating storms -- and I appreciate you, Senator, for being
here.
I want
to thank Congressmen Jim McCrery of Louisiana and Bill Jefferson
of Louisiana. Both these members have worked very hard for the
people of the great state of Louisiana with Congress to put a
package together to help the people of Louisiana and Mississippi
get back up on their feet.
I want
to thank Max Baucus -- he's not from the Gulf Coast area of
America, he's from Montana, but he cares. And he's a ranking
member of the Finance Committee and it's kind for you to be here.
I want
to thank members of my Cabinet who have joined us here today:
Elaine Chao and Alphonso Jackson, Mike Chertoff.
And,
finally, I want to thank my friend, Don Powell, who is the federal
coordinator for the Gulf Coast rebuilding effort. His job is to
represent the administration there as he interfaces with state and
local officials. I want to thank you, Don, for taking on this
assignment.
When I
spoke to the nation from Jackson Square, in New Orleans, I said
our job and our goal for the Gulf Coast was not just to survive,
but to thrive, and not just to cope, but to overcome. And I meant
it. And we're now implementing a comprehensive plan to help the
people of the region recover and rebuild. We've helped a lot of
people get temporary housing. We're now in the process of helping
them to transition to permanent homes. Helping people find housing
is going to be one of the really important challenges that we all
face together in order to help these areas rebuild.
We're
working to assist the school districts that have taken in students
from the affected areas. There's a lot of school districts around
our country that said, we want to help, let us educate the
children of those who evacuated and now we're helping to rebuild
them.
We're
also helping rebuild the schools in the affected regions. Last
week, we announced our plan to strengthen the levee system in New
Orleans. And in the last 24 hours, I extended full federal
coverage of the cost of debris removal for Louisiana and
Mississippi. We want to get the debris out of the way. I can't
imagine anything more discouraging then to continue to see the
piles -- and I mean, literally, piles -- of debris. And the sooner
we can get that debris removed and disposed of, the more hopeful
people will become.
Today,
I'm going to sign the Gulf Opportunity Zone Act of 2005. It's a
step forward to fulfill this country's commitment to help rebuild.
It's going to help small businesses, is what it's going to do. For
small businesses in the affected area, the GO Zone will double
expensing for investments and new equipment from $100,000 to
$200,000.
The bill
also provides a 50 percent bonus depreciation, and that means tax
relief for small businesses that -- and businesses that purchase
new equipment and build new structures. In other words, this tax
act provides incentives for people to move forward. And as these
businesses move forward, they're going to need to employ people.
So this is a tax bill that has got employment consequences to it.
This is going to help the entrepreneurs of Louisiana and
Mississippi and Alabama, entrepreneurship creates opportunity,
which creates job.
This is
just part of our plan to help the people get back to work. We've
got to help workers get the skills they need. I just met with a
group of concerned citizens from business and labor and education,
all aspects of society. Again, I want to thank you all for being
there. We're talking about how to help put together a strategy
that takes advantage of the jobs that are going to be created down
there to make sure there's a skill set match. We've got a lot of
people that want to work, and yet they may not all be electricians
or plumbers. And so one of the real challenges and opportunities
we have is to match willing worker with jobs which will actually
exist. And that's what we're talking about and strategizing about.
And,
again, I want to thank you all very much. This is the private
sector and public sector working in close coordination. Don Powell
is going to help put together a strategy that will be, one, it's
easy to understand; and, two, that will have moments that we'll be
able to measure whether or not we're making progress.
The GO
Zone Act does a couple of other things. It increases funding for
Hope scholarships and lifetime learning credits for students
attending colleges and graduate students in the -- and graduate
schools in the Gulf Opportunity Zone. It's going to make
continuing education for workers more accessible and help support
high school training that these Gulf Coast residents are going to
need to fill the jobs which are actually going to be existing.
By the
way, in a year from now, we're going to be talking about, what are
we going to do about all these jobs, and who's going to fill them?
As a matter of fact, there's a job shortage already down there.
And, again, I repeat to you, this provides a great opportunity to
make sure that the folks in Mississippi and Louisiana can find
work. And those are the folks we want to be first in line, by the
way. If you're from New Orleans, Louisiana, we want you to be the
first person to get the job. And what I'm telling you is we're
going to work to make sure housing is available for you, and
there's a training center, or training program, that will help you
match your desire to work with the jobs which actually exist.
If
you're from Mississippi, we want those new jobs to go to
Mississippi residents, and we want to help the Mississippi
community college, for example, to become a vital training center
for the jobs which are going to be needed to help this important
part of our country get back up on its feet.
The
Senate passed a deficit reduction bill that's going to provide $2
billion to help states pay for critical medical care for those
evacuees who need it; that's important. The defense appropriations
bill that the Senate is now considering, and I hope passes, would
help repair damaged transportation infrastructure, and provide
important federal funding for New Orleans to rebuild the levees,
and correct any design and construction flaws of those levees.
These bills are important for the future of the Gulf Coast.
The DOD
bill is really important, as the good senator will tell you. This
time of year, Americans, we give our thanks for the many blessings
we have. We renew our commitment to help those who are in need. We
are going to continue to work together to build a better future
for the people of the Gulf Coast. And the bill I'm about to sign
is going to make a difference. It's an important piece of
legislation. It's part of our strategy to accomplish an important
national goal, and that is a revitalized Gulf Coast and a New
Orleans that is a shining example of what America can do when it
puts its mind to something.
So,
again, thank you all for coming. Now I'm honored to sign the bill.
(The
bill was signed.) (Applause.)
END 3:16
P.M. EST
