President Bush Visits PIA/GATF Member ColorCraft of Virginia
WASHINGTON, DC—March 26, 2008—President George W. Bush today toured and gave brief remarks at Printing Industries of America/Graphic Arts Technical Foundation member company ColorCraft of Virginia in Sterling, VA. The President highlighted the effect that the recently passed economic stimulus package would have on ColorCraft and its employees. A recap of his remarks is included below.
PIA supported this act which allowed for increased expensing and bonus depreciation for small businesses like ColorCraft. The President said, “ColorCraft is a small, thriving business that will benefit from the stimulus package that the Congress passed earlier this year.”
ColorCraft CEO Jim Mayes, a former PIA/GATF Chairman of the Board, accompanied the President, showing off ColorCraft’s state-of-the-art facility and equipment that was purchased after previous stimulus acts.
PIA/GATF Vice President for Government Affairs Lisbeth Lyons was also in attendance. She said, “I’m glad that the President could visit one of our association’s member companies and meet with the people who work in our dynamic industry. The legislation he signed last month will help printers across the country as they seek to modernize and expand their businesses.”
President and CEO of PIA/GATF Michael Makin stated, “Our industry is honored to have hosted President Bush to highlight the economic contributions of companies like ColorCraft and all PIA/GATF members.”
About Printing Industries of America (PIA):
PIA is a part of PIA/GATF, the world’s largest graphic arts trade association representing an industry with more than 1.2 million employees and over $161 billion in revenue. PIA/GATF serves the interests of more than 12,000 member companies.
THE PRESIDENT: Jim, thank you very much for your hospitality. Thank you all very much for greeting me here.
ColorCraft is a small, thriving business that will benefit from the stimulus package that the Congress passed earlier this year. It will benefit from it because if they make -- if Jim decides to purchase software or machinery, there is a tax incentive to encourage him to do so. He’s made the decision to do so, and his company will be encouraged to do so through the tax code.
And that’s important because when he buys the machine, or when he buys software, somebody has to manufacture that. Therefore, there is a direct link between the stimulus package and jobs. As well -- we talked about this earlier -- a lot of the folks who work here at ColorCraft are going to get a check in the second week of May, as part of the economic, pro-growth stimulus package. And recently there’s been a mailer out to our citizens from the IRS. And this mailer basically describes the benefits from the stimulus package that people will receive.
One of the things that’s very important for our citizenry to understand, that is if you do not file an income tax return, you need to go to your local IRS office and get a form that will show the government where you live and who you are so you can get your check. If you file an income tax form all you got to do is your ‘07 income tax and mail it in.
But there’s a lot of people eligible for this stimulus package, the money coming out of the government to our individual citizens, who don’t file income tax forms, and yet they’re eligible. And so recently the IRS has been indicating that this weekend, this Saturday, there’s going to be a -- there’s an opportunity for citizens to go and make it clear who you are, where you live, so you can get your check, as well.
The purpose of this is to respond decisively to the economic downturn that we’re going through. The Congress, along with the White House, worked very closely to pass a very substantial pro-growth package. And I fully recognize that people are concerned about our economy, but they must understand that this package has yet to fully kick in yet. We’ve taken action, but it’s going to take a while for the economy to feel the effects of this good law that I signed. It’s going to take a while for these folks standing behind me to get their money.
Now, Jim has already made a decision because the aspects of the stimulus package for small businesses are clear. It is the law. And therefore, when he buys the equipment and software that he’s planning on buying, he can rest assured that the tax incentive will be available for him in this year.
Now, small businesses are the backbone of the U.S. economy. Small business owners and -- are dreamers and doers. We want to watch them and help them expand, because as they expand, more and more people find work. There’s a rough patch right now in our economy, but I’m confident in the long term we’ll come out stronger than ever before. One of the most decisive actions a government can take is to give people their money back so they can spend it, and that’s exactly what we’ve done. In the second week of May, a lot of folks are going to be getting a sizable check. And I’m looking forward to that day, and I know they are as well.
Thank you for coming. Thank you all.