WASHINGTON  -  U.S. Representative Jo Ann Emerson (MO-08) today voted for a tax relief package that would extend the terms of business expensing relief to small businesses and restaurants, college tuition tax credits, and capital gains and dividends tax relief, affecting 60 percent of Americans, through 2010. 

 

“There are a variety of tax relief measures in this legislation that are set to expire because of an obscure Senate rule.  This bill underscores our support for the American taxpayer during uncertain economic times – especially for those who own and work for small businesses, students and retirees,” Emerson said.  “Taxes and compliance costs can stifle our economies, particularly in rural areas of the country.  The tax benefits of purchasing new equipment are sometimes the only way to make that capital and growth affordable to a small business.

 

“I’m also proud this bill extends tax credits to make higher education affordable for aspiring students.  I know these measures are important to young professionals just starting out after graduating from college, as well as being an incentive to high school students who wonder if they will be able to afford a college education.  In addition, the capital gains and dividends tax relief is vital to retirees, especially teachers, who rely on their pension investments to provide a standard of living.”

 

Yesterday, Emerson voted for separate relief measures to provide tax credits to businesses and residents in the hurricane-ravaged Gulf Coast region, to create middle-class relief from the creeping Alternative Minimum Tax, and to extend tax cuts to U.S. military personnel serving in combat areas around the world.  Each separate proposal passed by a wide margin.