Senator Wyden Calls for Expeditious Renewal of Expire Act
Senator Ron Wyden, Chairman of the Senate Finance Committee, recently expressed his contention that the expired provisions of the Expire Act, including the Work Opportunity Tax Credit (WOTC), the Empowerment Zone Credit, and the Indian Employment Credit, need to be expeditiously renewed.
“Today, American businesses of all sizes are making their required quarterly tax payments to the IRS and trying to chart their path forward for 2014 and beyond. At a time when entrepreneurs and innovators should be identifying investments to support their business strategies and pursuing growth opportunities, Congress’s failure to renew expired tax provisions is forcing these companies to make “no interest loans” to the federal government through higher taxes. It’s unacceptable that inaction by Congress is denying American business the clarity and certainty they need to plan for tomorrow.”
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