For Immediate Release
January 6, 2006
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Contact: |
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Travis Larson |
(202) 216-2057 |
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US Economy Strong and Growing, With Help Of Tax Cuts
WASHINGTON, D.C., January 6, 2006 – Marc Lackritz, the president of the
Securities Industry Association (SIA), today made the following statement, as
the Bush administration’s economic team held a number of public events across
the nation:
"In 2003, the President and Congress temporarily lowered tax
rates on dividends and long-term capital gains helping to spur higher
growth and the creation of more than four million new jobs, driving the
unemployment rate down sharply. The law has already lowered taxes for
millions of savers and investors; extending it will provide certainty
and stability to the 76 million Baby Boomers who are preparing for
retirement.”
"Extending these tax reforms will help ensure the economy
remains on track, making this provision one of the most important
economic votes the Congress will take this year."
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The Securities Industry Association brings together the
shared interests of approximately 600 securities firms to accomplish common
goals. SIA’s primary mission is to
build and maintain public trust and confidence in the securities markets. SIA members (including investment banks,
broker-dealers, and mutual fund companies) are active in all U.S. and foreign
markets and in all phases of corporate and public finance. According to the Bureau of Labor Statistics,
the U.S. securities industry employs nearly 800,000 individuals, and its
personnel manage the accounts of nearly 93-million investors directly and
indirectly through corporate, thrift, and pension plans. In 2004, the industry generated $236.7
billion in domestic revenue and an estimated $340 billion in global
revenues. (More information about SIA
is available at: www.sia.com.)