Bill passed the House, on to conference
The American Council of Engineering Companies (ACEC) recently urged swift passage in Congress of the American Jobs Creation Act of 2004 (H.R.4520), which would lower the corporate tax rate from 35% to 32% and will extend the new benefit to the nation’s architectural and engineering firms.
In a letter to House Ways and Means Committee Chairman Bill Thomas, David A. Raymond, president of ACEC, wrote, “This bill will promote job growth, enhance the competitiveness of U.S.-based companies, and provide an important economic stimulus to our economy.” Thomas’ committee approved H.R. 4520 on June 14, and it passed the full House on June 17.
The bill now goes to conference where ACEC will try to convince conferees to adopt the Senate’s approach to the legislation and include all business entities within the bill’s reach.