Tax legislation must accomplish two things; it must both lift American’s tax burden and promote economic growth. In the 107th Congress, I worked to pass the Job Creation and Worker Assistance Act and the Economic Growth and Tax Relief Reconciliation Act (EGTRRA). Enacted into law March 2002, the Job Creation and Worker Assistance Act provides incentives for businesses to create jobs and spur innovation through targeted measures such as elimination of the Corporate Alternative Minimum Tax and capital investment write-offs for small businesses.

Meanwhile, the passage of EGTRRA provides much needed tax relief for Americans by, among other things, reducing individual income tax rates, phasing out the estate tax, increasing the child tax credit, and creating marriage penalty relief.

Unfortunately the EGTRRA tax relief measures passed in 2001 are set to expire, because of Senate budget rules, in 2011. Congress must work to make these crucial proposals permanent in the 108th Congress in order for small businesses and families to plan for their futures. Accordingly, I have already co-sponsored legislation that will make marriage tax relief permanent as well as a proposal to permanently repeal the death tax.

In addition to reinforcing EGTRRA, the 108th Congress must address the country’s stagnant economic growth and troublesome unemployment rate. Although the economy is growing, this growth is not strong enough to create good jobs for all of those looking for work.. President Bush has proposed a significant jobs creation package that would accelerate many of the tax relief measures in EGTRRA as well as increase expensing limits for small businesses expenditures and eliminate the double taxation of dividends. The U.S. House is carefully examining the President’s plan, and I am confident that Congress will formulate a final bill that both reflects the needs of our region while spurring economic growth and job creation.