Bush is set to pledge an economic stimulus package expected to concentrate on tax cuts for investors, to boost the stock market, as well as help for struggling states, offering them $10bn in ‘fiscal relief’.
This will be part of a $600bn (£373bn) economic spending plan for the next ten years.
Yesterday the president said: ‘We want to encourage investment activity. Investment means jobs.’
Democrats claimed Bush had designed a package that would help the wealthy and called it ‘financially irresponsible’.
John Spratt, a Democrat from South Carolina, said his party had designed a package that would deliver better and faster results.
The Democrats propose a $136bn injection into the economy through tax rebates this year, along with extended benefits to the unemployed.
‘We have a theme to this package. It is short term stimulus, long term balance,’ Spratt said.
However, given that the Republicans control both the Senate and the White House, the Democrats plans are unlikely to have any influence.
Bush is set to announce his economic package this evening.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016