|
FOR
IMMEDIATE RELEASE
September 15, 1999
Contacts:
Dennis S. Day,
703-837-5310
Phil Thoden,
703-837-5364
TAX CUT RALLY
URGES CLINTON TO RETURN AMERICANS HARD EARNED
MONEY
Washington,
D.C.—The Associated General Contractors of America (AGC) today
joined with Republican Congressional leaders and other tax cut
supporters at a Capitol Hill rally to urge President Clinton
to sign into law the $792 billion tax cut passed by Congress
in August.
AGC
Executive Vice President and CEO Stephen E. Sandherr said,
“Americans work hard for their money and this Administration
wants to spend everyone else’s money faster than the
government can collect.
The Republican led Congress wants to return the money
to the American public because who better to know how to put
it to good use than the people who earn their
money.”
In
a recent letter to President Bill Clinton, AGC President Terry
Deeny said, “Over the next ten years, the federal budget will
run a surplus of nearly $3 trillion and part of this surplus
should be returned to American taxpayers.
Particularly important for family-owned construction is
death tax elimination that is in this bill.
Construction companies are capital intensive and they
are hit hard by this tax that can total up to 55% of all
company assets.
General contractors strongly support this tax cut bill
and urge President Clinton sign it into law.”
Under
the tax bill, the death tax would be gradually lowered and
fully eliminated in 2009. The bill also includes other
provisions of benefit to the construction industry such as
corporate AMT relief, lower individual capital gains rates,
and tax provisions included in the Community Renewal
Act.
The Associated General Contractors of America is the
largest and oldest national construction trade association,
founded in 1918.
AGC represents more than 33,000 firms, including 7,500
of America’s leading general contractors, and 12,000
specialty-contracting firms. Over 14,000 service
providers and suppliers are also associated with AGC, through
a nationwide network of chapters.
http://www.agc.org/
dayd@agc.org
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