While there are signs that our economy has turned the corner, and a recovery is slowly occurring, there is no doubt that the nation and our region are still facing a much more difficult economic situation than at any time in the recent past. Every day, hardworking families in Upstate New York and all across the nation are still struggling to make ends meet.
I believe that companies receiving tax breaks from the government must live up to their end of the deal. That's why I supported H.R. 4213, the American Jobs, Closing Tax Loopholes, and Preventing Outsourcing Act, which holds big businesses accountable by taking away tax breaks from companies that outsource jobs away from Upstate New York.
I support increasing the estate tax exemption to $5 million, a threshold that will make sure that nearly all family farms and small businesses in Upstate New York are not impacted. I also support making tax cuts permanent for working families. The last thing we need to do is increase taxes on small businesses or middle class families that are already struggling during these tough economic times.