US President-elect Mr George W Bush says his proposed $1.3 trillion tax cut may have to be speeded up to help jump-start a slowing economy.
Mr Bush said he was convinced the size of his proposed tax relief was correct.
"I think that tax relief is necessary, the question is how fast we implement it. It is possible that we may need to implement it faster," he said.
Mr Bush disputed suggestions that the US Federal Reserve's surprise interest rate cut on Wednesday was orchestrated by Fed Chairman Mr Alan Greenspan to head off momentum for the tax cut.
"I don't think he's making any statement about fiscal policy from the actions he took," Mr Bush said. "I think he recognised that there are warning clouds on the horizon for our economy and he took action."
Mr John Chambers, chief executive of Internet equipment maker Cisco Systems, one of 15 technology leaders who met with Mr Bush yesterday, said quick action was needed to revive the US economy.
"Changes that used to take place in one year now take place in one month, and so the movement by government or by the Fed ... now needs to be done much, much crisper and much quicker," Mr Chambers said.
"I think the president-elect clearly understands that," he said.
Mr Bush sounded an optimistic note after the session, the second in two days with US corporate leaders to discuss signs of an economic slowdown and to rally support for Mr Bush's economic agenda.
Reuters