Pearce Votes to Ease Tax Burden on Families and Small Businesses

Statement

U.S. Rep. Steve Pearce issued this statement following his vote for House passage of a permanent tax extenders package -- the Protecting Americans from Tax Hikes (PATH) Act of 2015 (H.R. 2029).

"In New Mexico and across the nation, families and businesses alike are looking for certainty," said Pearce. "They want a government that provides flexibility for businesses and the economy to grow, families to save and prosper, and jobs to be created. In a sentence, they are looking for an effective and efficient government that affords everyone the opportunity of the American Dream."

"Passage of today's bill delivers greater certainty and opportunity to businesses and families throughout New Mexico. Instead of families worrying about their taxes increasing every two years, they can now rely on essential tax assistance being available. Families will permanently have access to the earned income tax credits, child tax credits, and others when planning their budgets and savings for the year to come.

"Likewise, for small and emerging businesses nationwide, this legislation offers assurances in the tax code that will allow them to grow, expand, hire new employees, and reinvest in their technology. Having run a small business with my wife Cynthia before coming to Congress, I know firsthand how vital 6-month, one-year, and even long-term planning is to the success of a business. Permanently extending the research and development tax credit, active financing exemption, Section 179 expensing, and the 5-year extension of bonus depreciation, - just naming a few -- make it possible for businesses to forecast budgets, expenses, revenues, and payroll.

"Small businesses are fundamental to turning the economy around. They account for the majority of jobs in the country and nearly all new jobs created. Providing a predictable and stable tax code is key to the success of small businesses."

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