Today, U.S. Senator Dean Heller (R-NV) voted in support of moving the Small Business Jobs and Tax Relief Act (S. 2237) forward. Heller offered two amendments to the bill that would have provided tax relief for Nevadans, but these amendments were blocked by the majority party.
"While I supported moving this measure forward, the Senate missed a real opportunity to do something bigger, something far more promising to encourage economic growth and get people back to work. I filed two amendments to this bill that would help ease the stress of taxes on middle-class Nevadans and help underwater homeowners. Instead of blocking these amendments, the Senate should have had an open debate. There are reasonable, common-sense measures that we can pass right now that would have a positive impact on economic growth. Unfortunately, instead of working toward a bipartisan solution, partisan gridlock has once again taken control. Nevadans deserve better and Congress should place its full attention toward getting America working again," said Senator Dean Heller.
Heller's first amendment would have ensured that underwater homeowners would not be soaked with an additional income tax if a part of their mortgage loan is forgiven. Starting next year, homeowners will be required to pay additional taxes when they receive a loan modification or sell their homes in what are commonly called "short sales," if action is not taken. His second amendment would allow for a permanent deduction of state and local sales taxes.