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Corporate Tax Relief Will Create More Jobs

March 11, 2004

Re "More Corporate Welfare," editorial, March 5: The tax bill being considered by Congress is about American jobs, not corporate welfare. The U.S. must comply with our world trade obligations to end increasing sanctions against American businesses and farmers. Our goal is to also create needed jobs at home by providing relief for domestic manufacturers, small businesses and other U.S.-based companies trying to succeed in a worldwide economy. The United States' corporate tax rate is among the highest in the industrialized world. The uncompetitive U.S. tax code wrongly contributes to American job loss.

The House, not just the Senate, advocates closing the "leasing loophole" and shutting down other tax shelters. Both the House and Senate use savings from these provisions to reform outdated tax laws and provide job-creating tax relief.

Rep. Bill Thomas

R-Bakersfield

Chairman, House Ways

and Means Committee

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