Call your U.S. Representative today to support H.R. 8
House scheduled to vote the week of July 30th
By Stephen Borg
On Tuesday, July 24, 2012 Chairman of the House Ways and Means Committee introduced H.R. 8, a bill that would extend the 2001 and 2003 tax cut rates for an additional year.
The House of Representatives is scheduled to vote the week of July 30th to extend the current tax rates for EVERYONE an additional year.
H.R. 8 would extend through the end of 2013 the current income tax and estate tax rates, which are set to expire at the end of 2012. This extension would also include a “marriage penalty” fix, a $1,000 child tax credit, a 15 percent top rate on dividends and capital gains, and a “patch” to ensure that the Alternative Minimum Tax does not ensnare millions of taxpayers it was never intended to affect.
Some Members of Congress are opposed to extending the 2001/2003 tax cuts for upper-income taxpayers who earn more than $200,000 for individuals and $250,000 for families. You and I both know that many of us and small businesses throughout the country would be hit with skyrocketing taxes if these extensions are capped at $200,000 and $250,000, respectively.
It is imperative that you contact your Member of Congress and state your full support for H.R. 8 and your opposition to capping the cuts at the reduced levels. Estimates from the Joint Committee on Taxation state that H.R. 8 would prevent taxes from rising by $384 billion over 10 years. Our families and small businesses cannot survive any increase in taxes and we need to make sure Congress hears your voice.
If you do not know your Representative, you can use the links below to identify your congressperson in the U.S. House of Representatives:
About the Author
Stephen Borg is Vice President of The Keelen Group.