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style='mso-bidi-font-weight:normal'>The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement regarding President Bush’s 2009 fiscal budget, which would make the capital gains and dividends tax rates permanent.
“SIFMA fully supports the President’s budgetary request to make permanent the reduced tax rates on capital gains and dividends,” said Richard Hunt, senior managing director for government affairs at SIFMA. “The President’s budgetary agenda continues to promote pro-growth policies that support economic expansion, job creation and market stability. At a time with so much economic insecurity, making these tax cuts permanent will help all Americans by providing economic security and assisting those that are struggling to save for retirement, education and home ownership.”
Hunt added, “When they were passed in 2003, the Bush tax cuts helped our economy create 8.3 million jobs, boosted GDP and saved 7 million seniors an average of $1,230 on their 2004 taxes. The tax rates on capital gains and dividends have clearly proven to be an important engine of economic growth and should be made permanent.”
