Posted on 06/17/2004 11:09:30 AM PDT by taildragger
Monday, June 14, 2004
Committee Approves Jobs Bill to Further Fuel Strong
Economic Growth
WASHINGTON – Today, Congress moved one step closer to ending escalating European Union trade sanctions against American manufacturers and farmers.
"The genius of American politics is accommodation and compromise – and this legislation reflects that mix," said Ways and Means Chairman Bill Thomas (R-CA). "Fixing our international tax law is long overdue, and we’ve balanced those changes with tax relief for manufacturing and small corporations to help create new American jobs. I am pleased that we’re building momentum for House action and bipartisan support."
The Committee on Ways and Means approved H.R. 4520, the American Jobs Creation Act of 2004, by a bipartisan vote of 27-9. The bill repeals FSC/ETI, and replaces it with tax relief for American businesses that will further economic growth and reinvestment here at home. By unanimous consent, the Committee also approved an amendment that strikes the "safe harbor" provision, section 692, from the bill.
Bump
Promises, promises, promises. Haven't we had one of these each year?
Ever since enactment of LBJ's Great Society, the Republicrat controlled Congress has waged economic warfare against American industry and the American Middle Class. There is no reason to expect that this legislation is any different. More than likely, it's just another in a series of misnamed, election-year frauds that will screw Americans in the long term.
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