Bachmann Introduces Legislation to End Tax Uncertainty
Today Congresswoman Michele Bachmann (MN-06), a former federal tax attorney, introduced legislation to make the current individual income tax rates permanent and stop the massive tax increase that will affect all taxpayers on January 1. Congresswoman Bachmann released the following statement upon introducing the End Tax Uncertainty Act of 2010 (H.R. 6522):
“Instead of providing economic certainty, Congress has been playing politics with the money that belongs in the pockets of hardworking Americans. In mere days, tax hikes will affect all earners unless Congress acts, but President Obama is insistent upon pairing a tax vote with unfunded spending.
“As a small business owner, I know job creators are hesitant to hire more employees without knowing 2011’s tax tables. Washington’s era of uncertainty has existed too long and is simply unjustified. I seek to bring certainty to job creators and American families through the End Tax Uncertainty Act of 2010.
“I am disheartened that President Obama is pushing for a so-called compromise which will only add to our deficit. Now is the opportunity for Congress to lower its deficit while helping job creators, which my bill will do. As the compromise currently stands, I cannot support it,” stated Bachmann.
Bachmann’s legislation also repeals the death tax and gift tax, prevents tax increases on the maximum tax rate for capital gains and dividends income for all Americans, permanently patches the Alternative Minimum Tax and reduces the corporate tax rate to twenty-five percent.
###
“Instead of providing economic certainty, Congress has been playing politics with the money that belongs in the pockets of hardworking Americans. In mere days, tax hikes will affect all earners unless Congress acts, but President Obama is insistent upon pairing a tax vote with unfunded spending.
“As a small business owner, I know job creators are hesitant to hire more employees without knowing 2011’s tax tables. Washington’s era of uncertainty has existed too long and is simply unjustified. I seek to bring certainty to job creators and American families through the End Tax Uncertainty Act of 2010.
“I am disheartened that President Obama is pushing for a so-called compromise which will only add to our deficit. Now is the opportunity for Congress to lower its deficit while helping job creators, which my bill will do. As the compromise currently stands, I cannot support it,” stated Bachmann.
Bachmann’s legislation also repeals the death tax and gift tax, prevents tax increases on the maximum tax rate for capital gains and dividends income for all Americans, permanently patches the Alternative Minimum Tax and reduces the corporate tax rate to twenty-five percent.
###
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.