Washington, D.C. – Today Congresswoman Kyrsten Sinema joined a bipartisan majority in the House of Representatives to pass H.R. 5771, the Tax Increase Prevention Act of 2014, and H.R. 647, the ABLE Act.

“These bipartisan bills provide needed relief for Arizona businesses and families,” said Sinema. “Congress must now work together to pass comprehensive tax reform that provides certainty, encourages job growth, and enables us to compete on a global scale.”

H.R. 5771 would extend for one year a number of expired tax relief provisions, preventing tax increases on millions of families and businesses. These provisions include:

• Above-the-line deduction for qualified tuition and related expenses for higher education.
• Research and development (R&D) tax credit.
• Employer wage credit for employees who are active duty members of the military.
• 50 percent bonus depreciation to property acquired and placed in service during 2014.
• Enhanced charitable deduction for contributions of food inventory.
• Production tax credit (PTC) for wind and certain other renewable sources of electricity.

H.R. 647, cosponsored by Sinema, allows families to create tax-free savings accounts to cover expenses for family members with disabilities, enhancing quality of life. Accounts would be available to individuals diagnosed with a disability before age 26, and annual contributions would be capped at $14,000.

Click here for more information about H.R. 5771 or here for more information about H.R. 647.

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