Tax Relief
Tax Relief Tax Cuts for Working Families In 2009 I helped pass a $31 million dollar tax extender bill through the House of Representatives. The individual tax deductions will bring an estimated $5 billion worth of tax credits back to Americans, providing up to 30 million homeowners with property tax relief, 4.5 million families with college tuition-related deductions and saves 3.4 million teachers money for their classroom expenses. The bill also extends a tax credit for small businesses who continue to pay National Guard and Reserve employees when they are called up to serve. Parts of the Rio Grande Valley and the City of Cotulla, Texas are considered “Empowerment Zones” and currently Cotulla receives these tax breaks within the 28th Congressional District. Tax breaks to underserved communities give them the leg up they need to spawn growth in their communities. Saving tax dollars means more money can be invested in the community to attract development and spawn economic growth within their cities. The extensions would also serve as a boon to the sluggish real estate and retail development markets, providing property tax credits for homeowners and $5 billion worth of incentives to encourage improvements to retail stores, constructions of restaurants and improvements to local development. Learn more about Empowerment Zones here: http://www.rurdev.usda.gov/rbs/ezec/About/taxincentives2003.pdf I am also a cosponsor of H.R. 3758, the Teacher Tax Relief Act, which would permanently increase the maximum deduction teachers are allowed to claim for the purchase of classroom supplies from $250 to $500. Our teachers spend hundreds of dollars out of their own pockets every year on materials they and their students need in order to facilitate the learning process. In fact, according to the National School Supply and Equipment Association, during the 2005-2006 school year, teachers spent an average of $826 for supplies and $926 for instructional materials-for a total of $1,752. Related Documents:
Press Release -
Economic Report Shows U.S. Economy Back On Track
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