|Carson Supports Jobs, Tax Relief Legislation|
May 27, 2010
WASHINGTON, D.C. - Congressman André Carson today voted to approve legislation that makes significant investments in American jobs and cuts taxes for middle-class families to help the nation continue along the path of economic recovery.
The "American Jobs, Closing Tax Loopholes and Preventing Outsourcing Act" continues to ease the tax burden on working families with an additional $4 billion in tax cuts in 2010. A recent USA Today analysis of Bureau of Economic Analysis data shows that American families are paying taxes at the lowest levels since 1950 because of changes in tax policy made by Democrats in Congress.
Businesses will also benefit with research and development tax credits and other incentives for businesses to invest here in the United States. The bill extends small business lending programs from the Recovery Act, which has already helped create or retain over 650,000 jobs.
"Each day we are seeing new signs of our economic recovery," said Carson. "But we must remain proactive and enact policies that continue to move our country forward. We can't sit back and fall victim to the failed policies that created the economic crisis."
The legislation also includes resources to support more than 350,000 jobs for youth ages 16 to 21 through summer employment programs. This age group has one of the highest unemployment rates at 25 percent.
"I am pleased to see an investment in summer jobs," said Carson, who joined with members of the Congressional Black Caucus to advocate for the provision. "Many young people are relied upon by their families to help with essentials like food and rent. A summer youth jobs program addresses teenage joblessness, which if gone unchecked, could impact our continued economic growth."
The bill now moves to the Senate for further consideration.
More information about the American Jobs and Closing Tax Loopholes Act of 2010
Provides funding to states to extend unemployment Insurance and Medicaid benefits.
Allocates essential funding for the Temporary Assistance for Needy Families program.
Prevents cuts in Medicare physician payments.
Increases fees the oil industry must pay into the Oil Spill Liability Trust Fund -- the rainy day fund for handling the immediate costs of dealing with oil spill disasters and compensating individuals, businesses and communities damaged by these spills.
Includes a two-year extension of the successful Build America Bonds (BABs) program which has been used by State and local governments to make infrastructure investments nationwide.
Please visit http://waysandmeans.house.gov/press/PRArticle.aspx?NewsID=11185 for more information.
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