Securities Industry Association Praises Capital Gains And Dividends Tax Reforms In President’s Tax Panel

Marc Lackritz, President of the Securities Industry Association (SIA), today praised the President's Advisory Panel on Federal Tax Reform for recommending the continuation of tax reforms on capital gains and dividends, changes first made in 2003 that have since helped create a strong and growing economy.

“The presidential panel wisely seeks to continue the capital gains and dividends tax reforms of 2003 – reforms which helped our economy create 4.1 million jobs, boosted GDP which has grown at over 4% since passage, saved 7 million seniors an average of $1,230 on their 2004 taxes and provided increased revenue to the Treasury this year. Many of the panel’s suggestions would substantially change the tax code – in ways that will require further review – but the capital gains and dividends reforms have already proven themselves an important engine of economic growth and should be extended.”