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
you have questions or need more information, please contact Duane Musser, NRCA's
vice president of government relations, at (202) 546-7584 or
email@example.com. 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!