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Tuesday, August 13, 2002

Chamber Head Calls for Renewed Focus by Lawmakers, CEOs; Continued Uncertainty Creates Drag on Economy

WASHINGTON, D.C. -- United States Chamber of Commerce President and CEO Thomas J. Donohue called on administration officials, lawmakers, business executives, and policy leaders to renew their focus on steps that will reduce economic uncertainty, during his remarks at the President's Economic Summit in Waco, Texas.

"Our free enterprise system is built on trust, integrity, and confidence," said Donohue, during a session titled Economic Recovery and Job Creation. "But it is powered by risk, experimentation, and sometimes even failure. Congress and the administration must reduce uncertainty, reward courage, get our economy moving again, and put Americans back to work."

The U.S. Chamber urged lawmakers to accelerate the Bush tax cuts and make them permanent; pass terrorism insurance legislation; reintroduce common sense into our judicial system through class action reform; as well as take final action on a national energy plan. Donohue called on Congress and the administration to work together to promote fiscal restraint and urged U.S. trade negotiators to retake the initiative with the new bargaining power of TPA.

In addition to his call for political leaders to move ahead with pro-growth and economic recovery policies, Donohue urged greater leadership by the business community, noting that risk is fundamental to the American economic system.

"If you want to make the big bucks, you must have the courage to make the big decisions," Donohue said. "It is time to make plans, to move forward. Business must step up to the plate and invest in the future of the American economy."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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