Tax Relief One Step Closer

By May 11, 2006General

As the WaPo announced yesterday on their front page, a deal was reached between House and Senate negotiators on a tax package. Today, they report that the House has approved the deal, so over to the Senate it goes.

We said in the depths of the recession that tax cuts would lead to investment and investment would lead to recovery. In fact we were right. Wanna know how we knew? Because that’s precisely the way we came out of every other recession — investment led the way.

So here we are again. The deal includes the extension of lower rates on capital gains and dividends and some international tax reforms as well. Missing is the extension of the R&D tax credit, a vitally important provision for America’s manufacturers, the source of all innovation. Let’s hope this gets done soon in a separate bill.

In any event, here’s the Key Vote letter we sent to the House (looks like it worked) and here’s the one we sent to the Senate. Tell your Senators to support tax relief for US manufacturers, and we’ll do the rest.