The House today will vote on H.R. 3630, The Middle Class Tax Relief & Job Creation Act. The legislation extends a number of provisions scheduled to expire at the end of the year and includes fully paid-for extensions of the payroll tax holiday and a reformed unemployment insurance program, along with a two-year freeze on cuts to doctors providing care to our nation’s seniors and disabled enrolled in Medicare. The legislation also extends and expands provisions to encourage employers to invest and hire. In response to this legislation, many job creators and associations have sent letters on The Middle Class Tax Relief & Job Creation Act, which can be found here.
Americans for Tax Reform
“Unlike the Senate Democrat payroll tax proposal, which offered temporary tax relief in exchange for permanent tax hikes, this bill’s spending is offset solely with spending cuts…Taken in total, this bill cuts taxes and cuts spending. It should be supported by any Member of Congress fighting for taxpayers.”
American Iron and Steel Institute
“[E]xtension of 100 percent bonus depreciation and the expansion to allow companies that fall under the AMT to take advantage of these business friendly expensing provisions will increase business investment in new facilities and equipment, leading to the creation of American jobs.”
National Federation of Independent Business
“[W]e are pleased to see that H.R. 3630 makes needed reforms to clean up waste and abuse of the UI program and helps unemployment recipients back into the job market. The bulk of the UI program is financed by taxing small business owners, and we appreciate that this bill makes program integrity a top priority.”
American Employers (Boeing, Lockheed Martin Corporation and others)
“[T]hank you for including in the Middle Class Tax Relief and Job Creation Act of 2011, the clarification that will allow contractors and manufacturers required to use the Internal Revenue Code Sec. 460 “percentage of completion method” of accounting (PCM) to benefit from bonus depreciation for 2012.”
American Occupational Therapy Association, Inc.
“Maintaining the historic connection between action on the Medicare fee schedule and the therapy cap is essential to helping ensure continued beneficiary access to medically necessary rehabilitation services. The two-year extension of the therapy caps will allow Congress the time to work with therapy stakeholders and the Centers for Medicare and Medicaid Services (CMS) to develop and enact meaningful changes to Medicare’s outpatient rehabilitation payment system, enabling the repeal of the arbitrary limits on this Medicare benefit set by the therapy caps.”
Leading Associations (National Association of Manufacturers, American Trucking Associations, leading telecommunications groups and others)
“[A]llowing businesses to continue to expense the full cost of capital equipment in the tax year it is purchased and placed into service, will promote continued investment and domestic job growth.”
American Ambulance Association
“[A]mbulance services are a critical component of our local and national health care and emergency response systems. They are also overwhelmingly small businesses that provide jobs and investment in local communities. The relief provided in the Job Creation Act will support these entities as they provide vital emergency health care and first responder services to entire communities.”
American Employers (American Airlines, Goodyear, Xerox and others)
“This bill includes the Alternative Minimum Tax (AMT) U.S. Jobs provision which will provide our companies with a strong incentive to create American jobs and to make new capital investments.”
National Roofing Contractors Association
“NRCA recognizes the need to provide businesses with the certainty that these tax policies will be available next year as they seek to grow and create jobs…NRCA also applauds the fact H.R. 3630 is fully-offset with spending cuts and programmatic reforms so this tax relief will not add to the deficit…NRCA commends you for your leadership on promoting tax policies that enable employers to grow their businesses and create jobs.”
More information on HR 3630 can be found here.