About | Contact | JOIN

NRCA Action Alert: Extend Pro-business Tax Rates NOW!

Dec. 9, 2010

On Monday, Dec. 6, President Obama announced a compromise framework on tax legislation that congressional Republicans support. The legislation is vital to preventing tax increases scheduled to take effect Jan. 1, 2001, for most individuals and small businesses. NRCA supports this framework agreement as a compromise vital to economic growth and job creation and urges members to contact their senators and representatives in support of this legislation.

In 2001 and 2003, Congress approved lower, pro-growth tax rates for individual income, capital gains, dividends and the estate tax that are set to expire at the end of 2010. Congress must pass legislation by the end of the year if major tax increases are to be prevented but so far has not been able to break through partisan gridlock to take action.

President Obama and congressional Republicans have agreed on a bold compromise framework tax proposal that includes these and other tax provisions, such as:
  • Two-year extension of all existing tax rates on individual income, capital gains and dividends, preventing any tax increases Jan. 1, 2011
  • Two-year estate tax rate of 35 percent with a $5 million exemption (compared with a 55 percent rate and $1 million exemption scheduled to take effect Jan. 1, 2011)
  • 100 percent expensing of business investment in 2011
  • Extension of expiring tax provisions, including energy-efficiency tax credits
However, it is unclear whether Democrats who control Congress for the remainder of 2010 will support the president's bipartisan compromise tax proposal.

NRCA is lobbying Congress to enact this necessary tax compromise to avoid tax increases on small businesses, and we need your help now. Contact your senators and representative and urge them to support the president's tax compromise proposal and avoid job-killing tax increases because:
  • The bipartisan tax compromise will prevent tax increases on businesses and individuals that will be a major setback for economic recovery if not averted.
  • Action is needed before the end of the year because scheduled tax increases for small businesses on Jan. 1, 2011, will further damage economic growth and job creation.
  • Enactment of 100 percent expensing for 2011, as contained in the compromise, will have a dramatic positive effect on business investment in the roofing industry.
  • Estate tax relief included in the compromise proposal is vital to small and mid-sized family businesses, which are our nation's primary job creators.
  • Overall, the bipartisan tax compromise breaks through partisan gridlock to provide stability and certainty that business and individuals need to restore strong economic growth.
If you have questions or need more information, please contact Duane Musser, NRCA's vice president of government relations, at (202) 546-7584 or dmusser@nrca.net. NRCA also urges you to forward this Action Alert to other colleagues and friends and encourage them to join you in contacting your senators and representative in opposition to this legislation. Remember, democracy is a participatory sport, and we can make a difference!





Roofing industry news

[ More news ]
Advertisement

Find a contractor

Roof type

ZIP Code
 

Find roofing contractors by state

Sponsored links