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Long-time readers of the Roundup know that I’ve been writing about one particular significant piece of legislation for the past few weeks. Now, a year’s worth of work to reduce the deficit is down to its final days. Last week, the House passed the Deficit Reduction Act which will save approximately $50 billion over the next five years. The next step in the process is for the House and Senate to work out the differences between their respective bills. These negotiations will be important as I believe that the House version is a fair bill that calls on all areas of government to tighten their belts. When Congress reconvenes following the Thanksgiving holiday, finalizing the Deficit Reduction Act will be priority #1. At that time, I hope to have good news to report.
House and Senate Approve Funding for Dyess Housing
With both the House and the Senate approving legislation last week that includes funding for housing construction on military bases, Dyess Air Force Base is a signature from President Bush away from receiving $43 million to modernize housing on the base. These federal dollars will help build 190 new housing units for our military families at Dyess. Some of the housing dates back to the 1950’s and needs to be brought into the 21st Century. There are often many tough decisions that need to be made when it comes to legislative issues. However, this was not one of them. Our military and their families go through a lot to keep us safe. Providing quality housing for them is an easy call to make.
Positive News on Sales Tax Deductibility
Many Texans, especially those who must send the IRS a check each April, may be familiar with the sales tax deductibility issue. Taxpayers who have to send in a state income tax return each year are able to deduct that amount from their federal income tax return. However, taxpayers in states without a state income tax, such as Texas, clearly do not have this option. This has led to an effort to allow Texans to deduct the amount they pay in state sales tax each year from their federal tax returns. Although we have not yet been able to make sales tax deductibility permanent, we have been successful in getting this tax relief enacted for 2004 and 2005. Similar efforts to extend this tax relief through 2006 are currently underway and close to becoming law. Last week, the committee that oversees tax legislation approved sales tax deductibility for 2006 returns as part of H.R. 4297. The House will vote on this measure in early December. Sales tax deductibility is the fundamentally fair thing to do, and I will continue to support it as the issue is debated in Congress.
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