US Presidency
1990

It is high time we pulled together and get the job done right. It's up to us to straighten this out. This job has four basic parts. First, the Congress should, this month, within a budget agreement, enact growth-oriented tax measures, to help avoid recession in the short term and to increase savings, investment, productivity, and competitiveness for the longer term. These measures include extending incentives for research and experimentation; expanding the use of IRA's for new homeowners; establishing tax-deferred family savings accounts; creating incentives for the creation of enterprise zones and initiatives to encourage more domestic drilling; and, yes, reducing the tax rate on capital gains. And second, the Congress should, this month, enact a prudent multiyear defense program, one that reflects not only the improvement in East-West relations but our broader responsibilities to deal with the continuing risks of outlaw action and regional conflict. Even with our obligations in the Gulf, a sound defense budget can have some reduction in real terms; and we're prepared to accept that.