Rogers Supports Tax Relief Extension
U.S. Representative Harold “Hal” Rogers (KY-05) announced today that last night the House of Representatives has passed a comprehensive tax relief bill that provides small businesses with much needed tax certainty while helping working families through these tough economic times. The Middle Class Tax Relief Act, which heads to President Obama for his signature, will save nearly every taxpayer and small business from $3.8 trillion in rate increases otherwise slated for January 1, 2011.
“At this eleventh hour, I am relieved that Congress has finally acted to provide some certainty to the many working families and small businesses facing a huge tax increase next year,” Rogers said. “Extension of these lower rates and job-creating tax provisions will allow southern and eastern Kentuckians to breathe a little easier this Christmas.”
The legislation, which maintains income tax rates at current levels for the next two years, also extends the expanded child and dependent tax credits, and alleviates a spike in the estate tax, which often affects family farms and small business owners. Other provisions in the legislation include payroll tax reductions and the continuation of tax credits aimed at revitalizing low income and rural areas, incentives for mine rescue training and equipment, and an extension of unemployment insurance funding. Finally, the legislation encourages research and development of coal-derived transportation fuels and hastens efforts to energy independence.
Rogers has served Kentucky’s 5th Congressional District since 1981. With a focus on economic development, job creation, fighting illegal drugs and preserving Appalachia’s natural treasures, he has a reputation for listening to his constituents and fighting for the region he represents. For more information visit www.halrogers.house.gov