Rep. Gerlach votes to let Pennsylvania families keep more of their money
Washington,
Sep 24, 2004 -
Rep. Jim Gerlach joined an overwhelming bipartisan majority in the U.S. House of Representatives Thursday in approving a tax relief bill that will ensure American families don't wake up to a major tax hike on January 1, 2005.
"The economy is starting to turn the corner and keeping more money in the hands of American taxpayers is the surest way to continue this recovery,” Rep. Jim Gerlach said. "These relief provisions, along with AMT relief, will reduce taxes an average of $530 for 94 million taxpayers, according to the Joint Committee on Taxation."
H.R. 1308, the Working Families Tax Relief Act of 2004 passed with a bipartisan 339-65 vote. It extends important tax relief provisions through 2010, specifically:
• Marriage penalty relief, a bill introduced in April by Rep. Gerlach
• The expanded 10-percent income tax bracket
• The $1,000 child tax credit and the higher 15-percent refundability rate is accelerated to the beginning of 2004
The legislation also extends relief from the Alternative Minimum Tax through 2005 - without this provision more middle income families will be pushed into the AMT. It also provides assistance to military families in combat zones and simplifies the tax code by creating a uniform definition of a child for tax purposes.
Both the House and the Senate approved the bill Thursday and it’s awaiting President Bush’s signature.
