From Associated Builders and Contractors:
Associated Builders and Contractors (ABC) today voiced its opposition to the proposed tax increases in the fiscal 2010 concurrent budget resolutions under debate in both the U.S. Senate (S. Con. Res.13) and in the U.S. House of Representatives (H. Con. Res. 85).
"The vast majority of ABC's 25,000 members are small businesses — businesses that will take the hardest hits from increases to the top individual tax rates and limits on amounts those small business owners can take in itemized deductions," said 2009 ABC National Chairman Jerry Gorski, president of Gorski Engineering Inc., Collegeville, Pa. "Tough economic times are forcing many of our members to face difficult decisions to cut costs and jobs in order to stay in business. Unquestionably the last thing these small business owners and the workers they employ need is significant tax increases."
According to an analysis by the U.S. Senate Republican Policy Committee, "S. Con. Res. 13 raises taxes by $361 billion and allows for $1.3 trillion in additional tax increases." In addition, the analysis found that "the resolution raises taxes on small businesses and others in the top two tax brackets, raises capital gains and dividend taxes, and allows the death tax to return."
"ABC also has serious concerns with the emissions tax, or 'cap-and-trade' proposal, contained within this budget," added Gorski. "This tax increase could have both direct and downstream impacts on ABC member companies by increasing the costs of fuel and building materials. However, it is unclear at this point how such a program would be constructed."
Associated Builders and Contractors (ABC) is a national association representing 25,000 merit shop construction and construction-related firms in 79 chapters across the United States. Visit us at www.abc.org
