As you may have read, Congress is considering legislation that will impose a significant additional tax on my family and my colleagues and hurt our nation's economic recovery. I want to encourage you to contact your U.S. Senators' offices by calling 1-877-634-7783, JPMorgan Chase's toll-free line, or sending an e-mail to express your opposition to unfair and excessive taxes that will undermine our economic recovery.
Click here for a one-page document that explains this issue and how to contact your Senators (http://ex.democracydata.com/JPMorgan/200903/Take_Action.pdf).
This legislation is not only fundamentally unfair, but it will undermine recovery efforts as Washington loses focus on the real economic issues. Banks will lose top talent at a time when they need it most, which will threaten their participation in future programs to help the recovery. This legislation will also have a significant and negative impact on our community, including local charities, schools and small businesses.
The U.S. House of Representatives passed a bill that imposes a retroactive, 90 percent tax on year-end compensation payments at banks that received TARP funds, even those banks like JPMorgan Chase that have acted responsibly throughout the financial crisis. The Senate is considering similar legislation. While the anger and frustration over bonuses paid by AIG are understandable, it is unfair to paint all financial institutions with the same broad brush.
Here's what you can do:
Contact your Senators' offices in Washington by calling toll-free 1-877-634-7783.
Send an e-mail to your Senators. You can find information about how to locate and contact your Senators' offices website at www.senate.gov.
Thank you for your consideration and help.
David J. Przybylinski
Vice President, Conversion Manager
JPMorgan Retirement Plan Services
Asset & Wealth Management
9300 Ward Parkway
Kansas City, MO 64114