New "Jobs" Bill Proposes $155 Billion in Gross ReliefSource: Commettee on Ways & Means - U.S. House of Representatives, http://waysandmeans.house.gov/The American Jobs Creation Act of 2004 (H.R. 4520) proposes $155 billion in gross relief from 2004-2014 including tax cuts and pro-growth tax incentives for manufacturers, producers, farmers, and small corporations and reducing double taxation for U.S.-based companies engaged in exporting and/or manufacturing. The bill would provide
The bill also includes several provisions to combat fuel fraud (which have already passed the House) and many provisions from the President's budget to reduce tax avoidance, crack down on tax shelters and close tax loopholes. The bill also extends customs and IRS user fees, which are scheduled to expire this year. |
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