ARLINGTON, VA — December 17, 2010 — The Food Marketing Institute (FMI) hailed the passage of an $858 billion tax cut bill, signed by President Obama today. The bill includes tax cuts for all income brackets for two years, extends unemployment benefits for 13 months and reduces the threshold for the estate tax rate. FMI President and Chief Executive Officer Leslie G. Sarasin released this statement:

“This bill plays a critical role in getting the economy moving again. It will give consumers more money to pay for basic necessities like food, which in turn is good for businesses and results in additional workers hired by businesses.   

It is also necessary to ease the burden of the estate tax on family-owned companies and allow for enhanced depreciation of investments to help businesses get back on the road to recovery.

We commend President Obama for signing this important legislation to provide tax relief for American consumers and businesses.”