Today at a press conference in Washington D.C., I joined several of my Republican colleagues to introduce the Economic Growth Act, an economic stimulus package which promotes job preservation and creation, long term economic growth, and a lower tax burden.
The Economic Growth Act of 2008, with its emphasis on America's small business and middle class, is a much-needed jumpstart to our nation’s economy. This bill is a commonsense approach to protecting and preserving American jobs. History has shown that the most effective way to reinvigorate the economy and spur economic growth is to ensure that job creators face a lower tax and regulatory burden. Congress and the Administration must pass an economic package that actually works to stimulate our economy long-term. Protecting and securing America’s jobs is the taxpayer friendly approach to accomplishing this.
The Economic Growth Act will:
- Provide fully, immediate business expensing;
- Reduce Corporate Tax Rate to 25%;
- Index capital gains to inflation; and
- Simplify the capital gains tax rate, allowing corporations to benefit from the 15% individual rate.
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Posted by Congressman Scott Garrett (NJ - 05) (01-23-2008, 01:29 PM) filed under
HRPC Member
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Comments
Comment by: Siri
January 23, 2008 03:24 PM
We need an economic stimulus package now! Congress must do something to help the economy!
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