Letter supporting H.R. 4850, the "American Job Creation and Investment Act"
March 17, 2010
The Honorable Gary C. Peters
U.S. House of Representatives
Washington, DC 20515
Dear Representative Peters:
The U.S. Chamber of Commerce, the world's largest business federation representing the interests of more than three million businesses and organizations of every size, sector, and region, thanks you for introducing H.R. 4850, the "American Job Creation and Investment Act," and believes that this bill could be included in broader legislation intended to spur economic growth and job creation.
This legislation would provide companies with an immediate and much needed source of liquidity and capital to stimulate job growth and to encourage new investment. Under current law, companies have non-expiring alternative minimum tax (AMT) credits, which are prepayments of tax which offset future AMT liability. The American Job Creation and Investment Act would enable companies to accelerate the use of these credits to create and maintain U.S. jobs and stimulate new investment in American plants and equipment.
As Congress considers various proposals to stimulate the economy and job growth, the Chamber believes that legislation like the American Job Creation and Investment Act could help provide additional capital companies need to maintain and create jobs and make new investments in their businesses.
R. Bruce Josten