Kagen Says Tax Cut Will Put Money in Workers’ Pockets
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KAGEN SAYS TAX CUT WILL PUT MONEY
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March 31, 2009 |
| Washington, DC — Congressman Steve Kagen, M.D. said today that many people will soon begin seeing more money in their paychecks. As of April 1st, 95% of American workers will receive a tax cut as part of the American Recovery and Reinvestment Act.
“I am working hard to get our economy back on track by putting more money in the pockets of my constituents and by investing our tax dollars in Northeast Wisconsin,” said Kagen. “The American Recovery and Reinvestment Act is transformational legislation because it includes a wide variety of ways we can help stimulate the economy and create jobs including this tax cut.” 181,000 households in the 8th Congressional District will receive a refundable tax credit of up to $400 per worker ($800 per couple filing jointly), phasing out completely at $200,000 for couples filing jointly and $100,000 for single filers. This is the fastest tax cut in American history and is guaranteed for at least 2 years Congressman Kagen has announced American Recovery and Reinvestment Act investments throughout Northeast Wisconsin. Wisconsin Veterans Home at King will receive $2,278,600. Austin Straubel International Airport will receive $1,500,000 to rehabilitate their runway. Our area will receive over $800,000 through the U.S. Department of Justice. $6.5 million from the Recovery Act is coming to the area from the U.S. Department of Housing and Urban Development. The U.S. Department of Health and Human Services will release almost $500,000 to three community health centers in our area. “We are creating jobs while providing affordable health care, services for veterans and making needed improvements to our infrastructure. This will take time, but I am confident that we are taking the steps necessary to stimulate our economic recovery,” said Kagen. Kagen has also convened several events for small businesses to learn how to take advantage of the provisions in the Recovery Act effort to unlock frozen credit markets through the Small Business Administration major programs – the 7 (a) program and the 504 program. The Congressman will embark on a Listening Tour in his district in April. He will visit six cities to listen to the concerns of his constituents and discuss the numerous benefits in the American Recovery and Reinvestment Act and how they can take advantage of these opportunities. He will be joined by banking experts and representatives from the Small Business Administration and Chamber of Commerce. |
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