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An overview of the presidents fy 2003 budget in the united states

Today, President Bush announced his Fiscal Year 2005 budget, a plan to help make America a more secure, more prosperous, and more hopeful country.

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It also increases funding for key priorities such as economic growth and job creation, education, and affordable health care. Protecting America by Securing Our Homeland: The budget would make permanent the tax relief he signed into law, which doubled the child tax credit; reduced the marriage penalty; phases out the death tax; lowered rates on capital gains, stock dividends, and small businesses to create incentives for job creation; and lowered rates for every American who pays income taxes.

While 28 months have passed since September 11, 2001, President Bush will not allow our Nation to return to a sense of complacency and false security. The tax relief proposed and signed into law by President Bush was the right action at the right time for our economy.

The results of this decisive action are clear. Economic growth in the second half of 2003 was the fastest in nearly 20 years.

  • New home construction in 2003 was the highest in 25 years; homeownership levels are at historic highs; manufacturing activity is increasing; inflation and interest rates are low; and a quarter million jobs were created in the last half of 2003;
  • The National Research Council has described research needs in several of these areas, for example, nanotechnology and climate change, both of which are identified and funded as cross-cutting priorities by the Administration, and astronomical research, a field funded in part by the NASA Space Science program.

New home construction in 2003 was the highest in 25 years; homeownership levels are at historic highs; manufacturing activity is increasing; inflation and interest rates are low; and a quarter million jobs were created in the last half of 2003. More than 105 million taxpayers have seen their income tax bills reduced.

Over 23 million small business taxpayers have additional tax savings to invest in new equipment, expand facilities and hire additional workers.

  1. Although it is also true that a substantial national investment in funding for research on issues related to bioterrorism is likely to produce substantial returns, research in a range of fields across both the biological and physical sciences can contribute to the national effort to counter terrorism in important ways.
  2. DOE's Science Program would decrease by 0. NASA, responsible for the satellites that are key to research in this area, would receive almost two-thirds of the funding for climate change research.
  3. Research on sensors and sensor-nets, for example, is still at an early stage. This committee's final report, entitled Making the Nation Safer.
  4. Science and Technology for Countering Terrorism Since the tragic events of September 11, 2001, the science and engineering community has sought to contribute its technological expertise to near- and long-term solutions to problems associated with countering terrorism and terrorist events, clearly a high national priority. The results of this decisive action are clear.
  5. The results of this decisive action are clear.

More than 33 million married couples are benefiting from marriage penalty relief. The President is also committed to ensuring that children with special needs receive a quality education.

The President's S&T Priorities

And in January of 2006, seniors can get prescription coverage with real health coverage choices under Medicare. For a modest monthly premium, most seniors who do not have prescription drug coverage could see their drug bills cut roughly in half. Addressing the Rising Cost of Health Care: President Bush has outlined a number of proposals to address the rising cost of health care.

His budget includes proposals to make health insurance more affordable and accessible. It would provide lower-income Americans a refundable tax credit so millions can buy their own basic health insurance coverage.

2003 United States federal budget

The budget includes a plan to computerize more health records to reduce health care costs and improve care. The President also proposes to enable small businesses to band together and negotiate for lower health coverage costs for their workers. Helping Americans Most in Need: