SIA: Hold line on tax breaks.(Short Interests)

Investment News, October, 2005

Byline: Sara Hansard WASHINGTON - The Securities Industry Association of New York and Washington this year led the call for Congress to renew tax breaks for dividends and capital gains. Prompt action is needed, because investors and companies typically plan their investments over a five-year cycle, and the tax break is scheduled to end at the end of 2008, said Frank Fernandez, Washington-based senior economist with the SIA.

The association held a press briefing in Washington on Oct. 17. New federal spending because of the hurricanes has prompted calls for eliminating tax breaks. The federal budget deficit for the fiscal year that ended this past September is estimated at $319 billion, down from a $413 billion deficit in fiscal 2004 and lower as...

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