Representing North Carolina’s Ninth District                                                                        

MYRICK VOTES FOR TAX CUT EXTENSION BILL
BILL PREVENTS $56 BILLION IN TAX INCREASES ON HARD WORKING AMERICANS

(Washington, D.C.) – Today, US Representative Sue Myrick (NC-9) voted for H.R. 4297, the Tax Relief Extension Reconciliation Act of 2005.  This bill keeps taxes from increasing on working families and will continue to help the economy grow.  
 
 “Tax dollars are the people’s money.  It belongs to them, not the government, and they deserve to keep more of it.  If we had not passed this bill, taxes would have increased on millions of Americans,” said Rep. Myrick. “The tax cuts we passed over the past five years have helped our economy expand.  Productivity is at historical levels, home ownership is at an all-time high, and consumer confidence is up.  Nearly 4.5 million new jobs have been created since May 2003, and the economy has grown at a 3.3 percent rate or better for 30 straight months.  This proves tax cuts work, and by extending these tax cuts we will continue to help our economy grow.”

  Many of the tax cuts passed by Congress are set to expire in the near future.  This bill ensures that those tax cuts are extended so that Americas do not face a tax increase.  This bill includes provisions such as: enhanced expensing for small business, reduced rates on capital gains and dividends, Alternative Minimum Tax relief for personal tax credits, modified research and experimentation tax credit, above-the-line deduction for higher education expenses, above-the-line deduction for teacher classroom expenses, and enhanced deduction for donations of computer equipment. 

 The Tax Relief Extension Reconciliation Act of 2005 passed the House by a vote of 234-197. 

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