July 11, 2012 by NADCA in Industry News
With the prospect of higher taxes starting Jan. 1 due to the scheduled expiration of the tax policies originally enacted in 2001 and 2003, the House Ways & Means Committee has asked for our assistance in providing first hand examples about the impact that tax hikes would have on your facility. Will it affect your hiring decisions for the remainder of the year? Will your business hold off on investments? Will your facility make different decisions about planning for the future? These stories, data and examples are critical to helping lawmakers understand and communicate the importance of the expiration of the current tax code. Feel free to send your stories and comments along to the NADCA Washington Office- firstname.lastname@example.org – we will then pass them along to the appropriate committee staff.
The House of Representatives has taken further action on developing legislation and will be voting in the next few weeks to extend the 2001 and 2003 reduced tax rates. The legislation that House Ways and Means Committee Chairman Dave Camp (R-MI) will introduce is expected to include: extension of the 2001 and 2003 reduced marginal income tax rates; extension of current estate tax provisions; extension of reduced rates on capital gains and dividends; AMT relief; and return of Section 179 allowance to $25,000.