Letter Supporting S. 3014, the "American Job Creation and Investment Act"
February 25, 2010
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
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, strongly supports S. 3014, the "American Job Creation and Investment Act," and believes that this legislation could be included in broader legislation intended to spur economic growth and job creation.
This bipartisan legislation introduced by Sens. Stabenow and Hatch 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 pre-payments of tax which offset future AMT liability. S. 3014 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 S. 3014 could help provide additional capital companies need to maintain and create jobs and make new investments in their businesses.
R. Bruce Josten