Congressman Dave Reichert

Contact: Amanda Halligan (206) 275-3438

Mercer Island, WA, Oct 8 - Congressman Dave Reichert (WA-08) today released this statement following the announcement of September’s unemployment numbers:

“For nearly a year, our citizens have struggled with near-record unemployment,” Reichert said. “Across this country we have seen the damage done by failed policies – chief among them the failed stimulus – a policy Americans were told would keep unemployment in check. Individuals, families and businesses continue to suffer, and Congress must focus its efforts on creating jobs and doing what’s necessary to revive our economy.

“In just 84 days, the American people are set to experience the largest tax increase in history. Congress must do everything possible to prevent this from happening. Rather than saddle the American people with more taxes, Congress must offer common-sense solutions, including offering incentives that will encourage innovation and investment and acting on pending free trade agreements.”

The Bureau of Labor Statistics today reported that the economy shed 95,000 jobs in September – a fourth straight month of decline – with an unemployment rate of 9.6 percent.

BACKGROUND
With the expiration of key tax cuts in late 2010 – coupled with the cost of the new health care overhaul law – individuals, families, and businesses are facing dramatic tax increases. Reichert has long been a champion of broad-based tax relief for individuals, families, and small business. He supports:

•   Making the current income tax rates permanent;
•   Making permanent the 15-percent capital gains rate, state sales tax deduction, marriage penalty relief, charitable giving deduction, and the child tax credit;
•   Permanently preserving the research and development tax credit;
•   Tax credits for renewable and alternative energy, home energy audits, and energy efficient retrofits and new construction;
•   Repeal of the Alternative Minimum Tax (AMT) and the death tax;
•   Eliminating an unfair tax on health insurance premiums for the self-employed; and
•   Using the tax code to provide reimbursements and incentives for individuals who provide valuable services to our communities, including our teachers and emergency first responders.

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