Movement of Becerra-Authored Taxpayer Bill of Rights
America's working families deserve to know their rights and be protected from untrained and unscrupulous preparers when it comes time to file their tax returns. In an effort to clarify the rights and responsibilities of all taxpayers and improve taxpayer services and protections, Rep. Becerra re-introduced the Taxpayer Bill of Rights Act. This legislation will enhance oversight of paid tax return preparers and refund anticipation loan products, and increase funding for taxpayer clinics and free sites that assist modest-income Americans prepare and file their taxes. In addition, it would require the IRS to clearly lay out taxpayers' rights and obligations in one, easy to understand document. The House passed several provisions of Rep. Becerra's bill on April 14 as part of the Taxpayer Assistance Act of 2010, including an increase in funding for low income tax clinics.
Closing Wall Street Loopholes & Promoting Job Growth.
On May 28, the House of Representatives passed H.R. 4213, the American Jobs, Closing Tax Loopholes and Preventing Outsourcing Act to promote job creation and restore fairness and accountability to the tax code. This bill ensures that Wall Street pays its fair share by closing loopholes that allow wealthy fund managers to pay a lower tax rate on some of their income than working families do on their salaries. H.R. 4213 also extends the Recovery Act Small Business Administration lending program that has already helped small businesses create or retain over 650,000 jobs. The bill also includes provisions that will help boost investment in infrastructure and help create jobs for individuals with the greatest need. Click here to learn more about the American Jobs, Closing Tax Loopholes and Preventing Outsourcing Act.
Fiscal Responsibility Commission Begins Work.
For the last 2 months, the President's National Commission on Fiscal Responsibility and Reform has been working to bring balance and fiscal stability back to the federal budget. Rep. Becerra, who was appointed to the Commission by Speaker Pelosi, continues to emphasize that fiscal responsibility includes making investments to rebuild the middle class and provide economic benefits for generations to come. Learn more about the Commission on Rep. Becerra's website, leave your comments and ideas on the Becerra Blog, and take this quick survey on your priorities for the Commission.