U.S. Chamber Opposes House Proposal to Increase Taxes, Stifle Job Creation

Legislation Will Decrease the Competitiveness of American Businesses and Stunt Economic Growth

WASHINGTON D.C.—U.S. Chamber of Commerce Executive Vice President of Government Affairs R. Bruce Josten issued the following statement on H.R. 4213, the “American Jobs and Closing Tax Loopholes Act of 2010,” ahead of the House’s expected action on the measure this week:

“While the Chamber believes the economy needs an extension of expired provisions, we believe that this legislation will do more harm than good. Embedded in this legislation are draconian tax increases on small business, American worldwide companies, and investment partnerships. These tax increases will hinder job creation, decrease the competitiveness of American businesses, and deter economic growth. Ultimately, we have no choice but to oppose this legislation as drafted because it is a job killer.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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