Clyburn, Emanuel Statement on Property Tax Relief Provision in Financial Rescue Bill

Statement

CLYBURN, EMANUEL STATEMENT ON PROPERTY TAX RELIEF PROVISION IN FINANCIAL RESCUE BILL

House Majority Whip James E. Clyburn and House Democratic Caucus Chairman Rahm Emanuel issued the following statement regarding a property tax relief provision in the Senate-passed financial rescue legislation. The legislation will likely be considered by the House of Representatives on Friday. Clyburn and Emanuel's statement is below:

"In Charleston, Chicago and communities across the country, property taxes are skyrocketing and families are struggling to pay the bills. Working families and minority communities are being hit particularly hard by property tax hikes.

"Congress has already delivered real property tax relief to the families who need it most, and in the coming days we will do even more. The financial rescue plan extends a $1,000 per family tax deduction to help offset state and local property taxes. Responsible middle-class homeowners who played by the rules, took out mortgages they could afford, and made their payments month after month, deserve some assistance as well. This is a common sense solution that will give 28 million taxpayers the assistance they need and it comes as part of a comprehensive bill that will help get our economy back on track and address the credit crisis.

"In these difficult economic times, we must act to protect families. We encourage our colleagues to stand behind this important legislation that offers real tax relief and strengthens the economy for all Americans."

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