December 6, 2010 Erica Hurtt
WASHINGTON, D.C. – The Financial Services Forum released the following statement from Forum President and COO Rob Nichols on today’s bipartisan agreement to extend key tax cuts:
“The Financial Services Forum applauds the work of President Obama and Members of Congress in reaching an agreement to extend tax cuts for all Americans, specifically tax rates on capital gains and dividends, for a two-year period. Extending these rates will provide some much-needed certainty for businesses, families, and retirees at a time of economic uncertainty. Maintaining lower tax rates also will help increase investment and provide market stability that will support job creation and a sustainable economic recovery. Lower capital gains tax rates provide industry with the capital necessary to make critical investments in equipment and labor, which creates economic opportunity and jobs, and helps American businesses to maintain a competitive edge in the global economy.
“We commend the President and members of both parties for their efforts to reach an bipartisan agreement, and we urge Congress to pass legislation to enact these critical tax extensions.”
The Financial Services Forum is an economic and financial policy organization comprised of 20 chief executive officers of the largest and most diversified financial institutions with business operations in the United States. The Forum’s purpose is to promote policies that enhance savings and investment in the United States, and that ensure an open, competitive, and sound financial services marketplace.