Chamber issues call for permanent tax relief

Taxes: Chamber Issues Call for Permanent Tax Relief

Last Tuesday's tax deadline served as an important reminder to Congress and all Americans that unless lawmakers make the President's tax cuts permanent, massive tax hikes loom in the future. This threat to business interests is substantial and the U.S. Chamber is making every effort to provide a forum for concerned citizens to make their voice heard. Last week, the Chamber hosted America's Small Business Summit 2008. The three day event brought the collective voice of business to Washington. Over 500 community and business leaders rallied on Capitol Hill and met with their members of Congress to address their specific policy concerns.
With the presidential primary season in full swing, making the tax cuts permanent will remain a hot topic. Each candidate has their own position. Some want to repeal the present tax cuts for many American families while others want to make them permanent. Where do you stand?
Where the U.S. Chamber Stands
The U.S. Chamber of Commerce supports making the President's tax cuts permanent and here is why:
If all the President's tax cuts are allowed to expire, American taxpayers will face the largest tax increase in our nation's history.
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.
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 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.
Small businesses account for 75% of the net new jobs. 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 jobs.
Make the Tax Cuts Permanent and Stop the $230 Billion Tax IncreaseSign Our Online Petition Today!
The U.S. Chamber is fighting to keep more money in the pockets of American taxpayers -- like yourself -- because we believe you know how to spend your money better than the government does.
If you agree, please add your name to our online petition in support of making the tax cuts permanent and to stop the $230 billion annual tax increase.
Add Your Name To Our Tax Cut Petition -- click here
Invite Others Who Support Tax Cuts To Add Their Name -- click here
The Latest Economic and Tax News
As a service to you, the Friends of the U.S. Chamber Web site features the latest news on the economy and taxes. To read this news, please visit www.FriendsoftheUSChamber.com and click the News Section.
Here are a few of the latest headlines:
Bush acknowledges tough time
Marine industry seeks tax breaks
Small Business Owners See Positive Impact Of Economic Stimulus Package
- More News -
Friends of the U.S. Chamber is a nationwide grassroots network dedicated to pro-growth policies that can strengthen the American economy. Add your voice to the national debate on critical issues that impact you and your community by taking our brief online survey.