(Archived Content)
On May 1st, Treasury Secretary John Snow said, The House in our view has made great progress on a Jobs & Growth plan that includes all the elements of the President's package. Let me enumerate here: it accelerates all the rates as proposed by the President, it increases small business expensing, it accelerates the child credit, and it significantly reduces the marriage penalty. It also significantly reduces the tax on dividends. This is a positive step forward that will create jobs for Americans workers.
Going forward we intend to build on this progress and continue to work with the House and the Senate to pass the hundred percent abolition of the double tax on dividends as proposed by the President, doing this will create even more jobs and produce more growth in the American economy.