| FOR IMMEDIATE RELEASE December 09, 2003 FC-10 | CONTACT: (202) 225-1721 |
Congressman Bill Thomas (R-CA), Chairman of the Committee on Ways and Means, today announced that the Committee is requesting written public comments for the record from all parties interested in H.R. 3654, the “Technical Corrections Act of 2003.”
BACKGROUND:
Yesterday, Chairman Bill Thomas, along with Ranking Member Charles Rangel (D-NY), introduced H.R. 3654, the “Technical Corrections Act of 2003.”
H.R. 3654 includes provisions that technically correct and clarify the intent of previous tax laws.
“We hope the public will review the proposed changes and provide comments during the coming months so we can send appropriate legislation to the President as soon as possible,” said Thomas.
The bill includes technical corrections to the provisions relating to dividends taxed at capital gains rates that were enacted in the Jobs and Growth Tax Relief Reconciliation Act of 2003 (P.L. 108-26). The bill also includes technical corrections to the rules relating to bonus depreciation, carryback of net operating losses and other provisions that were enacted in the Job Creation and Worker Assistance Act of 2002 (P.L. 107-147).
Technical corrections and clerical amendments to other enacted tax legislation, including the Economic Growth and Tax Relief Reconciliation Act of 2001 (P.L. 107-16), the Victims of Terrorism Tax Relief Act of 2001 (P.L. 107-134), the Community Renewal Act of 2000 (P.L. 106-554), the Taxpayer Relief Act of 1997 (P.L. 105-34) and the Small Business Job Protection Act of 1996 (P.L. 104-188) are also included in the bill.
Senate Finance Chairman Charles Grassley (R-IA) and Ranking Member Max Baucus (D-MT) have introduced companion legislation in the Senate.
DETAILS FOR SUBMISSION OF WRITTEN COMMENTS:
Any person or organization wishing to submit written comments for the record should send it electronically to hearingclerks.waysandmeans@mail.house.gov, along with a fax copy to (202) 225-2610, by close of business Friday, January 23, 2004. Please note that in the immediate future, the Committee website will allow for electronic submissions to be included in the printed record. Before submitting your comments, check to see if this function is available. Finally, due to the change in House mail policy, the U.S. Capitol Police will refuse sealed-packaged deliveries to all House Office Buildings.
FORMATTING REQUIREMENTS:
Each statement presented for printing to the Committee by a witness, any written statement or exhibit submitted for the printed record or any written comments in response to a request for written comments must conform to the guidelines listed below. Any statement or exhibit not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee.
1. Due to the change in House mail policy, all statements and any accompanying exhibits for printing must be submitted electronically to, hearingclerks.waysandmeans@mail.house.gov, along with a fax copy to 202/225-2610, in Word Perfect or MS Word format and MUST NOT exceed a total of 10 pages including attachments. Witnesses are advised that the Committee will rely on electronic submissions for printing the official hearing record.
2. Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased. All exhibit material not meeting these specifications will be maintained in the Committee files for review and use by the Committee.
3. Any statements must include a list of all clients, persons, or organizations on whose behalf the witness appears. A supplemental sheet must accompany each statement listing the name, company, address, telephone and fax numbers of each witness.
Note: All Committee advisories and news releases are available on the World Wide Web at http://waysandmeans.house.gov.
Click here for a copy of the JCX-104-03: Description Of The "Tax Technical Corrections Act Of 2003."