George H.W. Bush: “Tax Fairness and Economic Growth Acceleration Act of 1992 March 20, 1992 To the House of Representatives: I am returning…”

“Tax Fairness and Economic Growth Acceleration Act of 1992 March 20, 1992 To the House of Representatives: I am returning herewith without my approval H.R. 4210, the ``Tax Fairness and Economic Growth Acceleration Act of 1992.'' In my State of the Union Message, I proposed a responsible, balanced economic growth program. I challenged the Congress to pass incentives for growth by March 20. The Congress failed to meet that challenge. The Congress' response, H.R. 4210, is a formula for economic stagnation, not economic expansion. My Administration's economic growth program would create jobs, generate long-term economic growth, and promote health, education, savings, and home ownership. My plan would encourage investment and enhance real estate values--without tax increases. Tax increases would undermine the emerging recovery and act as a barrier to long-term growth. I call on the Congress to pass the seven commonsense measures that I asked for by this date, without tax increases, and to join me in pursuing a long-term agenda for growth. I am disappointed that after 52 days the Congress has produced partisan, flawed legislation. Rather than work in a constructive manner to strengthen the economy and to create jobs, congressional leaders chose the path of partisanship. H.R. 4210 would jeopardize the recovery. It would not create jobs.…”