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To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. March 14, 2006 Treasury Hosts Tax Relief Symposium Washington, DC– Treasury Secretary John Snow welcomed a distinguished panel of guests to Treasury's historic Cash Room this morning for an event that emphasized the importance of maintaining lower tax rates on capital gains and dividends in order to sustain Secretary Snow highlighted the economic impact of lower rates on investment capital by pointing out the dramatic economic turnaround that occurred after the enactment of the Jobs and Growth Act in May of 2003. "While officially the recession had ended in late 2001, the pace of the recovery was too slow. Growth was anemic, business confidence low and -- of critical importance -- capital investment was way down. As a result job growth was nonexistent," Snow explained. "President Bush recognized that something needed to be done; a more favorable climate was needed to encourage capital investment and spur job growth. With the enactment of the Jobs and Growth Act of 2003, the Today we have brought together a remarkable group of experts that work both in and out the Administration to discuss how sound tax policy leads to a strong economy. It is our intent that the discussions here today will encourage members of Congress to move forward in making the President's tax relief permanent." Public-Private Experts The event brought together a renowned group of experts.
Economics-Tax Report As a final cap, the symposium marked the release of a Department of Treasury report entitled "The Economic Effects of Cutting Dividend and Capital Gains Taxes in 2003." The report examines the economic rationale for reducing the double tax on corporate profits and identifies initial evidence on the economic effects. Specifically, the report expands on three determinations:
Visit www.treasury.gov to download the complete Treasury report as well as other materials handed out during the symposium.
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