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| Tax Rebates for Americans |
February 12, 2008 |
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Dear Friends,
Last week, the House passed an economic stimulus plan that would give tax rebates to millions of Americans. I voted in favor of this plan, and this week the President will sign it into law. It provides a rebate for a range of Americans – from working-class taxpayers, to middle-income earners, and includes disabled veterans and senior citizens living off of Social Security.
While I would have preferred that the plan be more oriented toward small business -- the engine of job growth in America -- there are provisions that should encourage small businesses to invest in equipment.
This stimulus bill should help improve consumer confidence and make sure any slowdown in the economy is short and shallow.
But for long term economical growth, we must keep our focus on making the 2001 and 2003 tax relief permanent. Otherwise, everyone will be getting an automatic tax increase. Income taxes will go back up, the marriage penalty will come back, and the death tax will come back to life.
We cannot tax our way to prosperity. I will continue to work to make the tax cuts of 2001 and 2003 permanent.
Wish you were here,
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