Working to Reduce the Tax Burden on Middle Class Families
 

As you know, Tax Day is fast approaching.  Unfortunately, too many middle class families in New Jersey are struggling under growing state and federal tax burdens as the cost of everyday goods like groceries and gas continue to rise. That is why I am happy to report that in just 3 months in the new majority, the House has passed two pieces of legislation that will provide some much needed relief to middle-class taxpayers.  As a member of the House Budget Committee, I helped pass a budget resolution that laid out a strong plan for reducing our massive national debt.  One in every $5 that you pay in income tax this year will go to interest payments on the debt. This is unacceptable.  On February 16, the House passed the Small Business Tax Cuts (HR 976), which provides $1.3 billion in tax reductions to help small businesses grow by increasing the amount of money they can deduct from their taxes and expanding eligibility.

The recently-passed budget resolution helps to pay for middle-class tax cuts by reducing waste, fraud and abuse in government spending. As important, it also calls for a long-term fix of the Alternative Minimum Tax (AMT), something that will unjustly affect 23 million American families this year.  I am a strong advocate of AMT reform and I am currently working with my colleagues in the House to pass this much needed legislation this year.

When Congress reconvenes, the House will consider HR 1677, the Taxpayer Protection Act of 2007, which will provide taxpayers with stronger protections in stopping identity theft and tax fraud.   It will strengthen IRS outreach to make sure that you know if you are entitled to tax refunds or credits like the Earned Income Tax Credit.  It also requires the IRS to notify you if there may have been an unauthorized use of your identity and increases civil and criminal penalties for websites that imitate the IRS in order to retrieve your personal information. 

Tax Day is always a stressful time for American taxpayers. I am working to help ease the burden on hard working middle-class families in a fiscally responsible way.  I will continue to fight for fiscal responsibility, to reduce our national debt, to eliminate the AMT for middle class families, and to provide much needed help to small businesses.

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