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Washington, DC -- Congressman David Davis today announced that he has signed on as an original co-sponsor to the Economic Growth Act of 2008, which is being introduced in the House of Representatives today and issued the following statement:
“The Economic Growth Act of 2008 is a common sense piece of legislation that will help our middle class and small businesses across America. With American families and business needing a boost, the Economic Growth Act of 2008 does just that.
“History shows us that the best way to provide an economic turnaround, create jobs, and promote economic growth is to ensure that businesses do not encounter a crippling regulatory burden and high taxes.
“The Economic Growth Act of 2008 allows businesses to fully deduct their tax returns for the costs of assets essential to their business. This provision would provide an incentive for businesses to purchase assets and grow their business. Furthermore, this piece of legislation provides a 10% reduction in the Top Corporate Tax Rate. By allowing businesses to keep more of the money they earn, this will encourage the expansion of that business by hiring workers, investing in the surrounding areas, and encouraging the company to become competitive nationally and internationally.
“These provisions, along with others in the Economic Growth Act of 2008 provide a practical and effective plan to help the American economy. In order to aid middle-class families and small businesses, the backbone of our economy, we must continue our focus on putting more money back into their pockets.”
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