Chamber Issues Tax Day Call for Permanent Tax Relief; Tax Relief Benefits Small-Business Employers, Workers and Consumers.Business Editors/Political Writers WASHINGTON--(BUSINESS WIRE)--April 14, 2004 The United States Chamber of Commerce The United States Chamber of Commerce is the world's largest not-for-profit business federation, representing
Modern looms are of two types, those with a shuttle (the part that carries the weft through the shed) and those without; the latter draw the weft from a in the future. "If all the President's tax cuts are allowed to expire, American workers will face the largest tax increase in our nation's history," said Bruce Josten, Chamber executive vice president. "These tax cuts have empowered small-business owners to create more jobs, put more money into the hands of consumers and moved this economy from recession to recovery in the shortest time possible. Now some want to raise taxes by letting these tax cuts expire. That's something taxpayers literally cannot afford to let happen." Failure to make permanent the tax cuts enacted under President Bush could result in at least a $230 billion annual tax increase - an amount that dwarfs Dwarfs Fannie Mae issued mortgage-backed securities pools that have an original maturity of 15 years. the $60 billion annual tax hike under President Clinton. Among the hardest hit will be individuals and small businesses, the majority of which are taxed at the individual rate. Increases in the marginal rate alone will balloon their taxes by $120 billion annually, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Chamber. "Small businesses account for 75 percent of the net new jobs," Josten said. "Tax increases hit them doubly hard because they drive up the cost of doing business and cut into the money available to hire new workers. None of this is good for consumers, and it's certainly not good for Americans looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. jobs." In addition to making the tax cuts permanent, the Chamber is working to make permanent the research and development tax credit and the increase in small business expensing. It also is working to reduce corporate and individual capital gains taxes, repeal The Annulment or abrogation of a previously existing statute by the enactment of a later law that revokes the former law. The revocation of the law can either be done through an express repeal the alternative minimum tax and eliminate the death tax, all of which place undue burdens on small-business owners. The U.S. Chamber of Commerce The U.S. Chamber of Commerce is the world's largest not-for-profit federation of businesses, representing more than 3 million businesses and organizations in the United States. As of 2003, the chamber was comprised of 3000 state and local chambers and 830 business associations. is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region. www.uschamber.com |
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