Congressman Lee Terry (R-NE) voted in favor of the Job Protection and Recession Prevention Act, H.R. 8, which passed the House today by a bipartisan vote of 256-171. The bill would provide a one-year extension of the current individual and estate tax rates, child and education tax credits and marriage penalty relief, and a two-year alternative minimum tax (AMT) patch.
"With today's vote, the House saved 700,000 Americans from possibly losing their jobs due to tax increases on small business owners," Terry stated. "By blocking a scheduled tax hike at the end of this year, every hard-working taxpayer, family and small business owner will be spared the uncertainty of paying higher taxes during these tough economic times. Congress must continue to move legislation that creates more jobs, encourages the growth of small businesses and works towards a stronger, healthier economy."