On Tax Day, Reichert Calls For Permanent Tax Relief
Congressman Dave Reichert (WA-08), a member of the House Ways & Means Committee, today released the following statement regarding tax day:
"As hard-working people across Washington State and the rest of the country finish the process of filing their tax returns, I urge Congress to reduce the tax burden for families and businesses," Reichert said. "Today, with unemployment hovering near 10 percent and people struggling to get by, Congress must focus on solutions to grow our economy while preserving and creating jobs. That begins with preventing the massive tax hike that's scheduled to take place at the end of the year if Congress fails to act. Using the tax code is a targeted approach Congress should take to provide deductions and incentives that will allow families to keep more of their hard-earned money, and businesses to create and preserve jobs. It's a proven approach to stimulating our economy, and it's the right thing to do.
"Tax Day is a time when families have an opportunity to take stock of their personal finances and achieve the maximum return from Uncle Sam," Reichert continued. "Like health care, I'm also concerned that there is another proposal for government takeover for all tax preparation, just sending taxpayers a bill for what they owe. Seeing the government struggle to keep its own fiscal house in order, I think taxpayers have little confidence that the government is somehow suddenly equipped to get involved in the personal finances of every American. The IRS doesn't have the resources or the incentive to help taxpayers make the right financial decisions -- especially given that its primary purpose is to maximize revenue collection. I'll continue fighting this proposal so we can move forward in a bipartisan way."
With the expiration of key tax cuts in late 2010 -- coupled with the cost of the new health care overhaul law -- individuals, families, and businesses are facing dramatic tax increases if Congress fails to act. Reichert has long been a champion of broad-based tax relief for individuals, families, and small business. He supports:
* Making the current income tax rates permanent;
* Making permanent the 15-percent capital gains rate, state sales tax deduction, marriage penalty relief, charitable giving deduction, and the child tax credit;
* Permanently preserving the research and development tax credit;
* Tax credits for renewable and alternative energy, home energy audits, and energy efficient retrofits and new construction;
* Repeal of the Alternative Minimum Tax (AMT) and the death tax;
* Eliminating an unfair tax on health insurance premiums for the self-employed; and
* Using the tax code to provide reimbursements and incentives for individuals who provide valuable services to our communities, including our teachers and emergency first responders.