August 11, 2003
The Honorable William M. Thomas
Chairman, Committee on Ways and Means
U.S. House of Representatives
Washington, DC 20515
Dear Chairman Thomas:
On behalf of the 5,000 members of the Independent Community Bankers of America we thank you for introducing the American Jobs Creation Act of 2003 (H.R. 2896), which includes important provisions to help our Nation's small businesses. Specifically, we thank you for supporting ICBA-backed Subchapter S tax reforms to help ease the punitive double tax burden faced by thousands of small businesses and community banks nationwide. We believe H.R. 2896 would improve the viability of small lenders. It would also provide an essential boost for economic growth since small businesses rely on local lending as their principal funding source to start, operate and grow their businesses and create jobs.
ICBA supports your efforts Mr. Chairman and looks forward to assisting you in ensuring the American Jobs Creation Act advances through Congress.
Kenneth A. Guenther
President & CEO