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“Be proud to say that we are all Americans." – Lamar Alexander
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Alexander Votes to Protect Taxpayers from Looming Credit Crunch
Also Extends $400 Sales Tax Deduction for 600,000 Tennesseans |
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October 1st, 2008 - WASHINGTON - U.S. Senator Lamar Alexander (R-Tenn.) said today that he voted in favor of a bipartisan economic rescue plan to stabilize credit markets and ensure that Tennesseans have access to loans and are able to cash their paychecks. He said the legislation also gives nearly 600,000 Tennesseans an average of $400 in tax relief.
“The Senate’s action will allow the Treasury Secretary to begin cleaning up the wreck on the economic highway caused by bad mortgage loans,” Alexander said. “This should get economic traffic moving again and restore confidence so that Americans can get auto, student, mortgage, business, and farm credit loans at reasonable prices. Since the Secretary will be buying troubled mortgage assets and then selling them, the cost to taxpayers should be limited, and any profits will go to reduce the federal debt.”
Alexander also noted that the bill contains tax relief for Tennesseans: “Of special importance to our state, the legislation includes a two-year deduction of state and local sales taxes from federal income. The deduction will mean an average of $400 in tax relief for nearly 600,000 Tennesseans each year. While this bill extends the deduction for two years, we still need a permanent fix, and I will continue pushing for legislation to do just that. I hope the House of Representatives acts quickly to send this legislation to the President.”
Other provisions included the bill were measures from the Renewable Energy and Job Creation Act of 2008 (S. 6049), which passed the Senate by a vote of 93-2 on September 23rd, that would:
• Extend the research and development tax credit for 2 years to encourage job creation.
• Expand eligibility for the Child Tax Credit ($1,000 per child under 17) to more families.
• Encourage the development of alternative energy:
o Extends the Solar Tax Credit for 8 years.
o Provides a $2,500 to $15,000 tax credit for plug-in cars and trucks.
o Encourages the development of cellulosic ethanol, made from “crops we don’t eat.”
o Encourages energy-efficient appliances and “green buildings.”
• Provide a one-year fix to prevent over 20 million middle-income Americans from having their federal income taxes increased by the Alternative Minimum Tax (AMT).
H.R. 1424 passed the Senate by a vote of 74 to 25 .
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| October 2008 Press Releases: |
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October 31, 2008 -
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Alexander: New Center Will Help Preserve Howard Baker’s Legacy for New Generation of Leaders
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October 31, 2008 -
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Members of Tennessee Delegation Announce Drought Declaration for 39 Counties in Tennessee
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October 29, 2008 -
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Alexander One of Two U.S. Senators to Receive National Guard’s Medal of Merit
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October 28, 2008 -
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Alexander Calls for Equal Treatment for Tennesseans in GI Bill
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October 27, 2008 -
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Alexander Receives “Friend of The Farm Bureau” Award
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October 23, 2008 -
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Alexander: Mounting Childhood Obesity Is A National Crisis
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October 21, 2008 -
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Alexander: Brainpower Advantage is Key to Keeping Tennessee's Good Paying Jobs
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October 17, 2008 -
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Alexander Says Increased Support for Homeless Assistance Programs Will Help Programs Like the Chattanooga Community Kitchen Continue Feeding those in Need
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October 15, 2008 -
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Alexander: Tennessee Can Lead Development of Clean Energy Technology
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October 14, 2008 -
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Alexander: Vonore Biorefinery Keeps Tennessee on Cutting Edge in Push for Clean Energy Independence
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October 10, 2008 -
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Alexander, Corker, L. Davis Announce $25,000 for Motlow State Community College
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October 10, 2008 -
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Alexander, Corker, L.Davis Announce $31,912 for White County Museum
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October 10, 2008 -
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Alexander, Corker, L.Davis Announce $500,000 for Grundy County Water System
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October 10, 2008 -
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Members of Tennessee Delegation Request Drought Declaration for 11 Additional Counties
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October 10, 2008 -
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Lawrence, Lewis Counties Added to Appalachian Regional Commission
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October 9, 2008 -
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Alexander: HOPE for Homeowners Program Could Help Many of the 67,000 Tennesseans Facing Foreclosure
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October 9, 2008 -
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Alexander, Corker, Gordon Announce $272,900 for Clay County Water System
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October 9, 2008 -
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Alexander, Corker, Wamp Announce $75,000 for the Clearfork Community Institute
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October 9, 2008 -
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Alexander, Corker, Wamp Announce $256,500 for Rhea Medical Center
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October 8, 2008 -
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Alexander: Tennesseans Will Receive More Coverage for Mental Health
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October 3, 2008 -
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Alexander Statement on Final Passage of Bipartisan Economic Rescue Plan
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October 3, 2008 -
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Alexander Celebrates 10th Anniversary of Outstanding Military Service in Millington
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October 3, 2008 -
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Alexander Celebrates 10th Anniversary of Outstanding Military Service in Millington
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October 1, 2008 -
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current Press Release
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October 1, 2008 -
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Alexander Says U.S.–India Nuclear Agreement Will Be a Pillar of American Foreign Policy
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 Radio Clip |  Television Clip
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