Jobs and Economic Growth

The chance to work and the opportunity to succeed - it’s been the American way of life since the birth of this nation. At a time when our thoughts often turn to security and freedom, the security that is provided by good jobs and a strong economy depend on freedom from an over-taxing and bureaucratic government. In his work on the Way and Means Committee in Congress, Congressman Weller has made sure Illinois families receive the benefits they deserve. Weller wrote the tax cut provision in the bill to eliminate the marriage penalty and strongly supported increasing the child tax credits from $600 per year to $1,000. Three million low income families will no longer pay income tax. Weller’s immediate tax relief action will mean $1,233 savings each year to a married couple with two children and an income of $50,000. The Jobs and Growth Tax Act of 2003 will bring an annual average of 25,627 jobs to Illinois between 2004 - 2008, with an in crease of 36,916 jobs in 2004 alone. This action provides immediate tax relief for families and businesses to help create jobs and stimulate the economy now. The Jobs and Growth Tax Act of 2003 includes the following measures: • Increases child tax credit from $600 to $1,000 • Eliminates the marriage penalty tax • Reduces tax rates immediately for all taxpayers, effective January 1, 2003 • Increases bonus depreciation from 30% to 50% and extends through December 31, 2004. (This is another element of the tax bill which Congressman Weller wrote to help businesses and increase growth and job creation.)

Related Documents:

Press Release - Strong economic news good for Illinois workers 11.3.2006

Press Release - Weller honored by U.S. Forest Service, Midewin Alliance 11.2.2006

Column - Ensuring the tax man cometh not 11.2.2006

Press Release - At Weller Invitation, U.S. Secretary Of Energy To Visit 11th District 8.2.2006

Press Release - Weller to Host Export Forum to Expand Local Business Export Opportunities 7.31.2006


More Documents...

Related Files: