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For Immediate Release |
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Contact: Murat Gokcigdem |
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Phone: (202) 225-8885 |
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November 9, 2007 |
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CONGRESSWOMAN EDDIE BERNICE JOHNSON VOTES FOR MIDDLE CLASS TAX RELIEF
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New Legislation Provides Tax Relief for 15,969 Households in the 30th Congressional District
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Washington, D.C. - Congresswoman Eddie Bernice Johnson today voted for legislation that offers more than $50 billion in middle-class tax relief and saves 15,969 households in the 30th Congressional District of Texas from paying higher taxes under the Alternative Minimum Tax. The Temporary Tax Relief Act is fiscally responsible and fully paid for and was approved by a vote of 216 - 193.
“Families in North Texas have seen the cost of health care, gasoline and a college education skyrocket while their homes have lost value. I was proud to vote for a plan that cuts taxes for middle class families and saves 15,969 households in my Congressional District from paying the Alternative Minimum Tax.” Congresswoman Johnson stated.
The Alternative Minimum Tax was originally designed to ensure very wealthy individuals do not avoid paying income tax. The tax now threatens to impact middle-class families and raise taxes on 23 million Americans if Congress fails to take action.
The Temporary Tax Relief Act of 2007 protects 23 million middle-class families from being hit by the Alternative Minimum Tax and includes a series of other provisions that provide tax relief to working families. The bill:
· Provides 30 million homeowners with property tax relief
· Helps 12 million children by expanding the child tax credit
· Benefits 11 million families through the State and local sales tax deduction
· Helps 4.5 million families better afford college with the tuition deduction
· Saves 3.4 million teachers money with a deduction for classroom expenses
· Provides thousands of American troops in combat with tax relief under the Earned Income Tax Credit.
The Temporary Tax Relief is fully paid for and will not add to the deficit and will grow our sagging economy with tax relief to promote innovation and high-paying jobs.
“Our legislation is fiscally responsible and won’t add a single penny to the deficit.” Congresswoman Johnson added.
The legislation also restores fairness to the tax code and closes wasteful tax loopholes. The Temporary Tax Relief Act closes tax loopholes that allow the privileged few on Wall Street to pay a lower tax rate on their income than other hardworking Americans, such as teachers and firefighters. Additionally, the bill prevents Wall Street hedge fund managers and corporate CEOs from escaping income taxes by using offshore tax havens as unlimited retirement accounts, while middle-class families play by the rules and pay their fair share of taxes.
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U.S. Representative Eddie Bernice Johnson is the highest-ranking Texan on the House Committee on Transportation & Infrastructure and a senior member of the Science Committee. She represents the 30th Congressional District of Texas, which, includes Downtown Dallas, Fair Park, Oak Lawn, Old East Dallas, Pleasant Grove, & South Oak Cliff; all of Balch Springs, DeSoto, Hutchins, Lancaster & Wilmer and parts of Cedar Hill, Duncanville, Ferris, Glenn Heights and Ovilla.
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