Restaurant.org: Taxes Among Top Issues for 112th Congress to ResolveAugust 8, 2012
With Congress now taking a five-week recess, taxes are among the top issues lawmakers still need to resolve this year.
Although taxes will be on the agenda when Congress returns in September, it's likely most action will be deferred until Congress meets in a lame-duck session after November's elections.
The House last week passed two tax bills important to National Restaurant Association members -- one to extend the lower 2001/2003 tax rates for another year, and a second that lays out a timeline for work on comprehensive tax reform next year. The Bush-era tax rates expire at the end of this year.
The NRA supported both House bills, and sent this letter in advance of the vote. With tax issues looming large for restaurants, the NRA has been weighing in at each step of the process, filing testimony, comments and letters with Congress in support of a fair, certain tax structure that promotes economic growth. NRA staff and members have met with numerous lawmakers to deliver that message. And the NRA has undertaken research to ensure the industry goes into next year fully prepared, with lawmakers likely to undertake fundamental reform of the tax code.
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