Dreier Applauds Extension of Tax Relief for Investors, Economic Growth

December 8, 2005

WASHINGTON, DC - Congressman David Dreier (R-CA), Chairman of the House Rules Committee, praised passage of legislation today that will extend the tax relief that has led to strong, sustained economic growth and productivity and the creation of 4.5 million jobs since 2003. The Tax Relief Extension Reconciliation Act of 2005, H.R. 4297, was approved with bipartisan support, 234-197.

"Today’s vote sends a strong signal that we want to keep our economic momentum going," Dreier said. "I’m particularly pleased that we had Democrat support for this measure. There can be no denying of the facts - tax relief is working for American businesses, workers, and families. To let it expire would be extremely detrimental to our continued economic expansion and would amount to a huge tax increase on millions of hard working Americans."

Without extension of this tax relief, a family of four making $60,000 per year would see their taxes increase by nearly 50 percent. The investment tax relief included in the bill benefits the ever widening Investor Class, which is made up of 59.6 million American households with investments in equity markets.