Alliance for Savings and Investment Urges Congress to Protect Seniors by Rejecting Tax Increase on Dividends
Washington, DC – The Alliance for Savings and Investment (ASI) released the following statement today in response to proposals in both the House and Senate to increase taxes on dividends:
“When it comes to dividend taxation, the research is clear. Raising dividend taxes on anyone will result in decreased dividend payments for everyone. This is true whether the top dividend tax rate increases to 25 percent or 40 percent. If Congress does not reject a dividend tax increase, seniors, who receive more qualified dividend payments than any other group, will see their dividend income reduced.
“With inflation fears rising, this is the wrong time to hit seniors in the pocketbook. It’s also the wrong time to make America’s tax code less competitive by doubling down on double taxation. Raising the tax rates on dividends and capital gains to some of the highest rates in the developed world will hamper the economic recovery and U.S. competitiveness.”