Jackson County Chamber of Commerce 517.782.8221 141 S. Jackson St. Jackson, MI 49201
Map the address
Home Home Home Home Home Home Home Home Home Home

US Chamber Message on Investment Income Taxes

MESSAGE FROM US CHAMBER:


As the President and the U.S. Senate prepare to extol the virtues of raising the tax rates on investment income (capital gains and dividends), we would like to offer your organizations a chance to weigh in with Congress on the importance of preventing these massive tax increases that would slow economic recovery and cost jobs. 


Bills have been introduced in the House (H.R. 3091) and Senate (S. 1647) that would maintain the current tax rates on both capital gains and dividends at 15%.  Absent Congressional action, the rates would increase to 20% and 39.6%, respectively, by the end of the year.  This is in addition to a separate tax hike on investment income that will kick in next year due to the new health care law.  As this WSJ piece notes, we have tried this before, and it does not work.


Together, these significant tax increases could not come at a worse time – discouraging the capital investment companies dearly need and taking money out of the pockets of investors, many of them retirees, while our economy hangs on the precipice of recovery.  The tax hikes would add to the code’s complexity and inefficiency, creating more uncertainty while giving investors pause.  Instead, we should simplify the code through fundamental tax reform that would encourage growth, unleash investment and create jobs.


Please consider signing on to our letter to the Hill by COB on Mon (4/16): http://www.uschamber.com/issues/letters/2012/national-sign-letter-tax-hike-prevention

Vote On This Issue

Contact a Representative

Take Action Now Write My Own Letter

Choose a pre-created letter to send: