FOR IMMEDIATE RELEASE CONTACT: Kevin Lawlor, 202/225-1880 November 9, 2007 www.tauscher.house.gov
Rep. Ellen Tauscher Votes To Provide Tax Relief to Middle Class Americans Over 70,000 District Ten families will get tax relief from Alternative Minimum Tax this April
WASHINGTON, D.C. – Today the House of Representatives passed legislation to provide immediate tax relief to protect 23 million middle class families from facing the Alternative Minimum Tax and a higher tax bill this April. “This is a perfect example of the new Congress working in real-time for American families,” said Rep. Ellen Tauscher. “We were able to provide the right kind of tax relief that keeps money in the pockets of middle class Americans without further adding to the deficit.” The Temporary Tax Relief Act of 2007, H.R. 3996, contains crucial provisions that provide for Alternative Minimum Tax (AMT) relief and extend a number expiring tax provisions, such as deductions for college tuition and charitable giving. The bill also expands the number of people eligible for the refundable child tax credit and the property tax deduction. The bill protects 71,628 households in Rep. Tauscher’s district from being subjected to the AMT – a provision originally meant to ensure that multi-millionaires were not avoiding taxes. Because it was never indexed for inflation, middle class families are now being hit by the AMT. Under the AMT, taxpayers lose the ability to claim tax deductions for dependent children and for state and local taxes, and pay on average $3,600 more in federal income taxes. Without the bill, the AMT income threshold for 2007 would be joint filers earning $45,000 and single filers earning $35,750.
### |
Washington D.C. 2459 Rayburn HOB Washington, DC 20515 p: 202.225.1880 f: 202.225.5914 |
Walnut Creek 2121 North California Suite 555 Walnut Creek, CA 94596 p: 925.932.8899 f: 925.932.8159 |
Antioch 420 West 3rd Street Antioch, CA 94509 p: 925.757.7187 f: 925.757.7056 |
Fairfield 2000 Cadenasso Dr, Suite A Fairfield, CA 94533 p: 707.428.7792 f: 707.438.0523 |