WASHINGTON -- U.S. Rep. Jim Ramstad (MN-03) voted today for the Tax Relief Extension Reconciliation Act, which extends expiring tax relief.

 

 “I strongly support the lower rates on capital gains and dividends because of their stimulative effect on the economy,” said Ramstad.  “Allowing these rates to expire will hurt the economy and penalize many seniors who rely on investment income for their retirement.”

 

“This important tax relief is the reason we’ve had 10 consecutive quarters of economic growth averaging a 4 percent growth rate,” said Ramstad. 

 

“I also support extending the expensing provisions for small businesses, which have created most of the 4 million new jobs over the past 2 years,” said Ramstad. 

 

“This tax relief bill also extends the saver’s credit for low-income Americans, the tax credit that keeps R & D jobs here in the United States, and the Work Opportunity Tax Credit that encourages employers to hire workers with disabilities and people moving from welfare to work,” said Ramstad.  “It also extends the tuition deduction that helps families pay for higher education.”

 

“This tax relief will continue to grow the economy and create jobs,” said Ramstad.

 

“As a member of the tax-writing Ways and Means Committee, it’s gratifying to see our tax relief legislation adopted by the House of Representatives,” said Ramstad.

 

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