ECONOMIC PROGRESS IN ARIZONA
UNDER PRESIDENT CLINTON

President Clinton's strategy to strengthen the economy is based on reducing the federal budget deficit, lowering trade barriers, and empowering workers, families, businesses and communities to succeed. Here are some of the results for the nation and Arizona after the first two years of the Clinton Administration:

Improved Economic and Fiscal Conditions in the United States:

• Under Clinton Economic Plan, the deficit will be lowered by more than $600 billion -- the deficit will be cut for three years in a row for the first time since Harry Truman was President.
• Almost 6 million new jobs created -- private sector job growth rate 8 times faster than during previous Administration.
• Federal government workforce will drop by 272,900 -- creating lowest workforce since the Kennedy Administration.

Improved Economic Conditions in Arizona:

• Over 3 times as many new jobs per year -- 71,530 vs. 22,900 average during previous 4 years.
• Over 4 1/2 times as many new private sector jobs per year -- 62,974 vs. 13,525 during previous 4 years.
• 10,400 new manufacturing jobs in 23 months -- after 15,600 lost during previous 4 years.
• The unemployment rate has dropped from 7.0% to 5.9%.
• New business incorporations have increased 23%.
• Home building has increased 29%.

What President Clinton's Accomplishments Have Achieved for the People of Arizona:

16 TIMES MORE ARIZONA FAMILIES RECEIVE A TAX CUT THAN A TAX INCREASE: As a result of the expanded Earned Income Tax Credit, 255,836 working families in Arizona will receive a tax cut. This compares to an increase in the income tax rate for only the 15,744 wealthiest taxpayers in Arizona.

TAX CUT FOR 19,224 SMALL BUSINESSES IN ARIZONA: The President helped entrepreneurs, proprietors, and other small businessmen and women by expanding the annual expensing allowance from $10,000 to $17,500. About 19,224 small businesses in Arizona are likely to benefit from the expansion of the expensing allowance this year alone and many more will benefit over the coming years.

561,000 ARIZONA WORKERS PROTECTED BY FAMILY AND MEDICAL LEAVE ACT: The Family and Medical Leave Act allows workers to take up to 12 weeks of unpaid leave for the birth of a child, to care for a sick family member, or if they become too sick to work. This law covers about 561,468 workers in Arizona, and protects the jobs of 33,730 workers in Arizona who are likely to use unpaid leave this year alone.

311,000 STUDENTS AND FORMER STUDENTS IN ARIZONA WILL BE ABLE TO BENEFIT FROM STUDENT LOAN REFORMS: Approximately 311,000 Arizona borrowers -- 217,600 current borrowers and 93,200 new borrowers in the next few years -- can take advantage of the new direct student loan program by participating directly in the program or by consolidating guaranteed loans into direct loans. Some will benefit from lower interest rates, and all will benefit from more repayment options, including income contingent repayment.