TANNER HELPS PASS SMALL BUSINESS TAX CUTS

WASHINGTON -- Congressman John Tanner said that tax cuts passed by the House of Representatives will raise low wages, help small businesses grow and assist disabled veterans, senior citizens and at-risk youth find better job opportunities.

Tanner serves on the House Ways and Means Committee, where the legislation was written and passed by a unanimous committee vote. The bill passed the full House Friday by a vote of 360-45.

“My family has owned small businesses in Tennessee for generations, and I understand the unique challenges these family-operated businesses face in remaining successful and meeting the needs of their communities,” Tanner said. We also understand their importance in helping fuel the local and national economies. This bill supports small businesses as they continue to thrive and gives them the assistance they need to help raise their workers’ wages.”

The bill: extends the work opportunity tax credit, which encourages employers to hire hard-working people returning to the workforce after military service or economic hardship; expands and extends the amount of investment a small business owner can expense; and adjusts the “tip tax credit” that allows families who own restaurants to raise wages without tax penalty.

This means that families who own restaurants can raise their employee’s pay, consistent with the much needed minimum wage increase, but not take a hit from the federal government in the process.

The House of Representatives will now work out differences between its bill and a similar measure in the Senate.

In addition to serving on the Ways and Means Committee, Tanner serves on the House Foreign Affairs Committee and as chairman of the U.S. delegation to the NATO Parliamentary Assembly, the legislative arm of NATO. He is a founding member of the fiscally conservative Blue Dog Democrats.

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Contact: Randy Ford, 202.225.4714