Republicans Act to Extend Tax Relief

Republicans Act to Extend Tax Relief

Bill will extend tax relief to small businesses, seniors, and families

On the heels of 31 consecutive months of uninterrupted job growth, House and Senate Republican leaders this week forged an agreement on a bill to prevent tax increases on small business owners, seniors, and families. H.R. 4297, the Tax Increase Prevention and Reconciliation Act of 2005, extends alternative minimum tax relief, the increased limit on small business expensing, and the low rates on capital gains and dividends. Congressman Mario Diaz-Balart (R-FL) today said this important legislation will help spur continued economic growth.

"Republicans have worked hard to ensure millions of American small business owners, families and seniors will continue to enjoy relief from budget-busting, economy-killing taxes," said Diaz-Balart. "With our nation's economy prospering at historic levels, this Republican Congress has acted to ensure that more Americans keep their hard-earned money and benefit from continued economic growth. This tax relief measure will assist seniors living off dividends, small business owners who will be able to write off business expenses and working families currently burdened by excessive taxation.

"On Sunday's Meet the Press, Democrat leader Nancy Pelosi practically guaranteed Democrats would raise taxes on the American people and commit economic suicide," Diaz-Balart continued. "She would rather take Americans money than keep our economy thriving."

http://www.house.gov/mariodiaz-balart/news/2006news/051006_taxrelief.htm