The
The two-year extension alone is expected to save investors $49.4 billion, according to
Investment company trade organizations applauded the extension as a move to help kick-start economic growth, encourage savings and reduce unemployment.
Mark Lackritz, president of the
"This legislation, which we have strongly supported, will benefit the millions of shareholders who are striving to build savings for retirement, college and other long-term needs," said Paul Schott Stevens¸ president of the
Others have criticized the bill for awarding tax relief only to the wealthy, while failing to address deductions targeted to help working class families who have education and health care costs now, and no savings.
Richard Hunt, SIA senior vice president for Federal policy and Federal tax legislation, said that the bill helps economic growth for the nation overall, and that growth helps everyone. "We believe this is the crown jewel of the tax package," he said.