Washington, D.C. — The American Gas Association (AGA) today reiterates its support of low dividend tax rates as an important factor in America’s economic recovery. AGA urges Congress to oppose H.R. 4853, which would increase maximum dividend tax rates from 15 percent to 39.6 percent, an increase of 164 percent.
H.R. 4853, expected to come before the House of Representatives today, will penalize shareholders who rely on dividends, many of whom are seniors on fixed incomes. It would also penalize stable and responsible companies, such as America’s energy utilities, that pay dividends.
“Our economic recovery is still fragile; now is not the time to increase taxes on investment,” said Dave Parker, president and CEO of AGA.
Extending the current lower rates as soon as possible would remove some of the uncertainty plaguing the markets and instill a sense of confidence in equity investors. Through its Defend My Dividend campaign, AGA continues to champion this important goal. Learn more at www.DefendMyDividend.org.