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Letters to the Hill

Subchapter S Reforms

October 29, 2003

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October 29, 2003

The Honorable William M. Thomas
Chairman, Committee on Ways and Means
U.S. House of Representatives
Washington, DC 20515

Dear Chairman Thomas:

The Independent Community Bankers of America congratulates you for advancing the American Jobs Creation Act of 2003 (H.R. 2896), which includes important provisions to help our Nation's small businesses. We thank you for including much needed Subchapter S tax simplification measures to help ease the punitive double tax burden faced by thousands of small businesses and community banks nationwide.

The vast majority of commercial banks in our nation are community-based banks. Our domestic businesses, especially small manufacturers across America, rely heavily on the availability of local lending for their principal funding to start, operate, and grow their businesses and create jobs. ICBA believes H.R. 2896 would improve the viability of small lenders and businesses and would foster an essential boost in economic activity and job creation.

ICBA appreciates your efforts Mr. Chairman and looks forward to assisting you in ensuring the American Jobs Creation Act advances through Congress.

Sincerely,

Kenneth A. Guenther
President & CEO

cc: Honorable Jim McCrery, Chairman, Select Revenue Measures






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