President Bush urged Congress to pass huge tax cuts - and quickly - to stimulate domestic job growth. Referring to efforts to limit cuts to $350 billion, he added, "If they agree that tax relief creates jobs, then why are they for a little bitty tax relief package?" Bush spoke at a ball-bearing plant in North Canton, Ohio, the home state of George Voinovich (R), one of four Senate Republicans who voted to limit cuts. Bush favors the $550 billion over 10 years approved by the House.
The board of American Airlines' parent, AMR Corp., was meeting on a possible bankruptcy filing, and reportedly was ready to proceed with it if chairman Donald Carty fails to salvage agreements with three unions on $1.8 billion in annual labor concessions. Carty's job also was said to be under discussion. Adding to the pressure, the world's largest carrier reported a $1.04 billion first-quarter loss Wednesday.
Alan Greenspan agreed to a fifth term as Federal Reserve chairman, the post he has held since 1987. The statement Wednesday came after Bush said Greenspan deserved another term when the current one expires next year, following speculation on a possible change in Fed leadership as Bush runs for reelection.
Under fire from homosexual rights groups and some Democrats, Sen. Rick Santorum (R) of Pennsylvania denied Wednesday that recent comments, regarding a Texas sodomy law being argued before the US Supreme Court, were intolerant. In a recent Associated Press interview, Santorum said that if the High Court rules consensual sex is constitutionally protected, "then you have the right to bigamy, you have the right to polygamy, you have the right to incest, you have the right to adultery." He did not mention gay sex, but a report of the interview suggested that he had. Presidential candidate Howard Dean (D), meanwhile, joined calls for Santorum's removal as the third-ranking leader in the Republican Party over the statement.
A heavily armed student fatally shot his principal, then took his own life at the Red Lion Area Junior High School, near York, Pa., police said. School officials said the boy was not known to have disciplinary problems.
Fox News fired a broadcast engineer who was caught with 12 Iraqi paintings at an airport near Washington. Benjamin Johnson also faces criminal charges over the alleged war trophies. Customs officials say paintings, bonds, and weapons - among them a gold-plated assault rifle - have been confiscated from returning journalists and one US serviceman.