Expiration Date Looming!Don't Let Vital Tax Cuts Expire
A slew of important tax rates are nearing their expiration date at the end of 2010, leaving looming tax increases if Congress fails to act.
As The Hill said:
Democratic leaders are likely to punt the task of renewing Bush-era tax cuts until after the election.
Don't let Congress leave you in the dark this November!
By not acting -- voters will head to the polls left without a clear idea of their future tax rates.
Many in Congress would love to see these vital tax rates disappear before your eyes -- setting us on a uncontrollable path towards bigger government and higher taxes.
Email Congress today and urge them to take immediate action to extend these vital tax cuts.
That's right: If Congress fails to act, tax rates on investment income will go up substantially. In 2011, taxes on dividends will increase by 164% and taxes on capital gains will increase by 33%.
To make matters worse and government bigger -- add to the mess the 3.8% tax on investment income that will go into effect in 2013 as part of the health care reform boondoggle.
Click here and tell Congress to take action -- and prevent unnecessary tax increases on capital gains and dividends that will knock the economy off the road to recovery.
We are facing a time of economic uncertainty -- raising taxes on businesses and investors would discourage Americans from building individual savings and further investing in the economy.
It's time to get a message to Congress: Now is not the time to increase taxes.
Please click here and tell Congress to act NOW -- and stop another economic meltdown.
Bill MillerSenior Vice President and National Political DirectorU.S. Chamber of Commerce