The president, who has been out of the country for much of the past two weeks as bad economic news piled up, returned to the forefront by calling for an even larger plan than the $100 billion one under discussion in Congress.
"This growth package must be big enough to make a difference in an economy as large and dynamic as ours," the president said at the White House, flanked by his top economic advisers and Vice President Dick Cheney.
Bush provided few details of what he thought the package should contain. Instead, he laid out "principles" that included an emphasis on tax incentives for businesses, which congressional Democrats already have said they would accept, and opposition to tax increases, which Democrats have indicated are off the table. The centerpiece of the emerging plan appears to be a one-time tax cut - paid as a cash rebate this year - of $800 per taxpayer, or $1,600 for a couple filing jointly. Rebates of that size would total about $100 billion. Officials hope they would spur consumer spending and economic growth.
The remaining measures are likely to be a mix of tax incentives designed to encourage business expansion and cash relief for the unemployed and needy, whose circumstances would make them likely to spend the money immediately.
Administration and congressional officials said the president's intent was to establish parameters and not stand in the way of whatever plan emerges from negotiations.
Treasury Secretary Henry Paulson, who is expected to lead the administration side of the talks, described the president's position as "constructive ambiguity."
"Of course, we know what we'd like to see, but we know that other people have other ideas," Paulson said.
Bush did not put a dollar figure on his proposal, saying only that it should amount to about 1 percent of the country's annual economic output, or gross domestic product. Estimates of the GDP for 2007 range from $14 trillion to $15 trillion, suggesting a package of $140 billion to $150 billion. Paulson referred to Bush's recommendation as about $150 billion.
