Business Leaders Plead with Congress to Take Action on The Tax Extenders
As the nation settles into “campaign mode” heading into the November elections, increasingly
frustrated business leaders are lamenting the lack of attention to the various expired/expiring
tax measures that Congress has yet to adequately address. Indeed, currently, there
are no definite plans on the extension of the 60 tax provisions that expired at the
end of 2011, of which the Work Opportunity Tax Credit (WOTC ) is one.
John Engler of the Business Roundtable, an association of the CEO’s from large corporations
nationwide, summed it up when he said, “It’s driving everyone crazy that 60 provisions
of the tax code expired last December 31 and 41 more are slated to expire this year.”
Unlike, perhaps, individual tax filers, corporations are necessitated by their nature
to plan their tax, business, and hiring strategies well in advance of their execution.
However, the uncertainty surrounding these provisions makes that task near impossible
to undertake with any accuracy.
“Businesses want to know what their taxes will be next year. They don’t know,” says
Amanda Austin of the National Federation of Independent Businesses.
This weblog is sponsored by TALX.