By Heather Knight / Carla Wilson
Elmore Autauga News
The Prattville Area Chamber of Commerce held its monthly Coffee and Conversation at The Marriott Legends in Prattville with Congressman Gary Palmer as the central focus for networking with the community.
Gary Palmer has served as the U.S. representative for Alabama’s 6th congressional district since 2015.
Following the Coffee and Conversation the U.S. Chamber of Commerce and Prattville Area Chamber hosted a closed roundtable to talk about the need to extend pro-growth business tax provisions before portions of the 2017 Tax Cuts and Jobs Act (TCJA) expire at the end of the year.
The legislation is most commonly known as the Trump tax cuts. This tax cut was one of the largest tax decreases in history and cut taxes for individuals and corporations. It also increased standard deductions for families.
During the roundtable, Congressman Palmer and Clark T. Jackson, Senior Director, Regional Government Affairs, U.S. Chamber of Commerce met with the Prattville Area Chamber of Commerce and local business owners to discuss key details about the need for the extension and the benefits it will have on the local community.
“The Prattville Area Chamber of Commerce is dedicated to supporting our members, and more importantly, we serve as the vital link between our business community and Congressman Gary Palmer. We are grateful to Congressman Palmer for taking the time to engage with our members and share valuable insights on how extending the pro-growth tax provisions of the Tax Cuts and Jobs Act can benefit their businesses,” says Patty VanderWal, President of the Chamber. “These discussions are essential for fostering economic growth in our community and ensuring that our businesses continue to thrive and succeed.”
As the roundtable wrapped up, Palmer took questions from the local media. In response to a question from EA News about how the TCJA benefits families in the district, Palmer stated, “When we extend these tax cuts it will be huge for our district and everyone else. It will help the local economy and middle-class families in our district. It will be better pay, better benefits, and more jobs. If for some reason we didn’t extend the TCJA it would have a devastating impact on the community. But I am absolutely positive it will pass.”
In 2017 when the TCJA was passed, the rate adjustment for corporations went from 35% to 21%. Palmer was asked if those cuts made us more competitive globally. “It absolutely has. Many businesses have come back to the United States. One of the examples is Pharmaceutical companies. The reason they relocated to other places was the tax rates.” Palmer stated.
Clark Jackson, from the U.S. Chamber of Commerce, said, “The tax cuts have been very beneficial for small businesses and the local economy.”
Palmer ended his time by reiterating the importance of this bill and how extending it will only continue to boost the economy.
