KAGEN VOTES TO CUT TAXES
FOR SMALL BUSINESSES AND PROPERTY OWNERS
(WASHINGTON, DC) Congressman Steve Kagen, M.D. is cutting your taxes and taking the necessary steps to put our economy on the road to recovery. Kagen voted for the Tax Extenders Act of 2009 today, which will provide property tax relief to 30 million families nationwide.
“I am working hard to create jobs in our communities by cutting taxes for middle class families and spurring investment in small businesses,” said Kagen. “This legislation helps to keep your money in your own pockets and extends tax credits for businesses, encouraging them create to higher wage jobs.”
The bill extends the research and experimentation tax credit for businesses for another year, encouraging them to invest in clean energy and create the high-tech jobs of the 21st century. The legislation also ensures soldiers serving overseas do not face a pay cut here at home, and offers some relief for millions of parents, teachers, and consumers by extending deductions for college tuition, classroom expenses, and state and local sales taxes.
“Our economy was driven into the ditch by Wall Street speculators who looked to make a quick buck and a regulatory system that looked the other way. We cannot allow this to happen. The irresponsibility of Wall Street speculators and corporate greed got us into this mess and we are writing new laws to make sure they help pay for our recovery,” said Kagen.
This legislation will not add to the deficit. It is paid for by ending preferential tax treatment for investment fund managers and combating offshore tax evasion. The measure provides the IRS with significant new tools to crack down on those who use these loopholes to exhort profits while our families and our economy suffer.
“We have taken actions to put our nation on the road to economic recovery. Everyone understands it will take time to succeed, but we are now moving in the right direction,” said Kagen.