Crowley Champions $61.5 Billion Tax Cut for Up to 25 Million Middle Class Families Nationwide 6/26/2008 Contact: (202) 225-3965 Miscellaneous press release Up to 31,800 District 7 families in New York to benefit (Washington, D.C.) – Ways and Means Committee member Congressman Joseph Crowley (D-Queens,Bronx) championed passage of the Alternative Minimum Tax (AMT) Relief Act of 2008 (H.R. 6295). Upon enactment, the AMT Relief Act will block a considerable tax increase to over 25 million middle class families across the U.S., including an estimated 31,800 families in the 7th Congressional District of New York. The $61.5 billion tax cut is completely offset by closing major tax loopholes. The bill passed by a vote of 233 to 189. “With the cost of food, gas and education on the rise, we cannot stand-by and let middle class families see their taxes go up,” said Congressman Crowley. “The AMT Relief Act will block a significant tax increase from going into effect this year. As a member of the powerful Committee on Ways and Means, I helped to craft this important legislation and I am proud of the broad support for it in the House of Representatives. I hope President Bush and Congressional Republicans will do the right thing for our middle class families and stop standing in the way of this fiscally responsible tax cut.” The Alternative Minimum Tax Relief Act of 2008 (H.R. 6275) is a fiscally responsible middle class tax cut that will provide critical tax relief to more than 25 million families, including 31,800 in District 7 who would otherwise see their taxes increase this year through no fault of their own. Without this legislation, these individuals would fall into the outdated AMT bracket and face a significant tax increase this year. H.R. 6275 modernizes the tax code to today’s middle class income levels in a fiscally responsible manner. The bill is fully paid-for and closes tax loopholes for offshore tax shelters, cracks down on tax cheats and ends massive government subsidies for oil companies earning record profits. From his seat on the powerful House Committee on Ways and Means, Congressman Crowley played a significant role in crafting this legislation, which will now go to the U.S. Senate for consideration. # # #   Washington 2404 Rayburn House Office Building Washington, DC 20515 (202)225-3965 Queens 74-09 37th Ave Suite 306-B Jackson Heights, NY 11372 (718)779-1400 Co-op City 177 Dreiser Loop Bronx, NY 10475 (718)320-2314 Bronx 2800 Bruckner Blvd Bronx, NY 10465 (718)931-1400