Support H.R. 2, the Jobs and Growth Act of 2003
May 7, 2003
To Members of the United States House of Representatives:
On behalf of the U.S. Chamber of Commerce, the world's largest business federation representing more than three million businesses of every size, sector and region, I write in support of H.R. 2, the Jobs and Growth Act of 2003.
The Chamber called on Congress early this year to pass this important package proposed by President Bush to help the economy. The Jobs and Growth Act is vitally needed to boost consumption, encourage investment, expand the economy and create more jobs.
H.R. 2, the Jobs and Growth Act, includes all of the key items from the President's original proposal. H.R. 2 will accelerate the individual tax relief provided by Congress in 2001. The bill will also help small businesses by increasing the Section 179 expensing limits and reducing tax rates on small businesses that file as individuals. Finally, the bill will provide needed relief from the double-taxation of corporate dividends.
While the Jobs and Growth Act does not completely eliminate the double-taxation of dividends and limits other provisions, we recognize that the Committee on Ways and Means was forced to make some accommodations to comply with the budget resolution.
Therefore, we strongly urge you to vote in support of H.R. 2 when it comes before the House later this week. Given the importance of the Jobs and Growth Act to the U.S. business community, the Chamber will consider votes on or related to H.R. 2 for inclusion in our annual "How They Voted" rankings.
R. Bruce Josten
Executive Vice President, Government Affairs
U.S. Chamber of Commerce