Tax relief

“ In the last five years, the tax relief you passed has left 880 billion dollars in the hands of American workers, investors, small businesses, and families – and they have used it to help produce more than four years of uninterrupted economic growth. Yet the tax relief is set to expire in the next few years. If we do nothing, American families will face a massive tax increase they do not expect and will not welcome.
Because America needs more than a temporary expansion, we need more than temporary tax relief. I urge the Congress to act responsibly, and make the tax cuts permanent. ”

“ We can continue on the path to prosperity and new jobs - a path marked by a pro-growth agenda that has cut taxes on paychecks for 109 million American taxpayers - or we can reverse the course by raising taxes on hardworking Americans. The choice is clear. Tax relief has got this economy going again, and tax relief will keep it moving forward. ”

“ This week's progress demonstrates that both houses of Congress and both political parties agree that tax relief will help this economy. Now the discussion is about how much tax relief the American people need and deserve. We need at least $550 billion in tax relief over the next decade, big enough to make a real difference in the paychecks of American workers, big enough to help entrepreneurs create more jobs, and big enough to give our economy the boost it needs. ”

“ Two years ago, Congress approved income tax reductions that will not go into full effect until 2006. My plan would make these reductions effective immediately, to boost the economy in the short-term and help insure long-term growth. If tax relief is good enough for Americans three years from now, it is even more necessary today, when our recovery is not as strong as it should be. ”

“ My tax relief plan is a fair one, lowering the rate for all taxpayers. The typical family of four with two children will get $1,600 in tax relief. And the greatest benefits, the largest percentage reductions, will go to those who need them most. My plan is pro-growth. It gives our economy a jump-start by leaving more money in the hands of those who have earned it. ”

“ It would be good news for small businesses that need customers with money to spend. And it would be good news for our broader economy; good news for economic growth and job creation and consumer confidence.
The House of Representatives has already passed a large part of my tax relief plan. Now it is up to the Senate. It is only common sense to give our economy a boost in a slowdown. Yet tax relief is more than common sense; it is a matter of principle. My tax relief plan is also a tax reform plan. It corrects some of the worst, most unfair abuses in our current tax system. ”

“ This brought me to the conclusion that, “when a reduction of taxation is about to take place, it is exceedingly important that great care and judgment should be exercised in the selection of the tax to be reduced, in order that the maximum of relief may be afforded to the public with the minimum of injury to the revenue.” ”

“ Most Americans think their taxes are high enough. With all the other pressures on their finances, American families should not have to worry about their federal government taking a bigger bite out of their paychecks. There's only one way to eliminate this uncertainty: Make the tax relief permanent. (Applause.) And members of Congress should know: If any bill raises taxes reaches my desk, I will veto it. ”

“ If you're a single mother with two children, working to make ends meet, your taxes would go up by more than a $1,000. If you're a small business owner working to meet a payroll, your taxes would increase by almost $4,000. And if Congress allows our tax relief to expire, more than 5 million low-income Americans who currently pay no income taxes would once again have to pay taxes. ”

“ I said that we had to change our tax system where, instead of giving all the tax breaks to the wealthiest few, that we start giving tax breaks to middle-class families who are struggling to make ends meet. So I made that commitment even before the crisis. (Applause.)
So in the package that we put forward, what we have is $1,000 for working families, $1,000 in additional immediate tax relief that would start flowing right away. And so it would -- it would offset a lot of the payroll taxes that people are paying. ”

“ Since they already agree that tax relief creates jobs, it doesn't make sense to provide less tax relief and, therefore, create fewer jobs. I believe we should enact more tax relief, so that we can create more jobs, and more Americans can find work and provide for their families. ”

“ We have reduced taxes, encouraged investment, and removed obstacles to growth. The Jobs and Growth Tax Relief Reconciliation Act of 2003 I signed into law will provide 23 million small business owners with tax cuts averaging more than $2,200 each. ”

“ If Congress takes care of first things first, we can also give targeted tax relief to America's families: a tax credit to help pay for college or save for retirement; a tax credit to help care for aging or ailing loved ones; a tax relief to reduce the marriage penalty; tax relief to reward work and family with an expanded earned-income tax credit; an increased tax credit for child care expenses. ”

“ We have other work to do on taxes. Unless Congress acts, most of the tax relief we've delivered over the past seven years will be taken away. Some in Washington argue that letting tax relief expire is not a tax increase. ”

“ Making tax relief permanent includes extending the tax cuts on dividends and capital gains. These tax cuts have been vital to our economic growth. By lowering the cost of capital, this tax relief has given businesses an incentive to invest and expand, and that has helped create jobs and opportunity. ”

“ If anybody wants to have a trigger, it's government spending. He believes tax relief needs to be permanent and should be permanent. Tax relief is, in many ways, a trigger on spending because you won't be able to spend the money if the government doesn't have it. ”

“ To be effective, a growth package must include tax incentives for American businesses -- including small businesses -- to make investments in their enterprises this year. And it must also include direct and rapid income tax relief for Americans like you. ”

“ I feel the momentum for tax relief everywhere I travel in this country. Americans know our economy needs some immediate help. Americans know they are over-taxed and over-charged by their government, and Americans are ready for a refund. ”

“ Small businesses stand to gain a great deal from this measure. After all, more than two-thirds of taxpayers who pay the highest marginal tax rates are small business owners who include their profits when they file their individual tax returns with the IRS. All together, the tax relief I propose will give 23 million small business owners an average tax cut of $2,042 this year. And I'm asking Congress to make those reductions permanent, so that America's entrepreneurs can plan for the future, add more employees and invest in our economy. ”

“ These reforms would bring immediate help throughout our economy. They would leave more money in the hands of families who need it to make purchases and to pay the bills. And this tax relief would give employers greater incentives and resources to invest in new equipment. ”

“ A lot of Americans are struggling with debt and some have borrowed against their homes to repay it. These families could certainly use extra money-money that my tax relief plan will offer. Other families will buy some things they need, or save for college or retirement.
Tax relief is good for our economy precisely because it is good for American families. When millions of families have some extra money to save and spend, it helps kick-start our economic growth. When families are more confident about the economic future, that future gets brighter for us all. ”

“ I think that the plan that we've put forward is the right one, but obviously over the next several weeks and months, we are going to be continuing to take a look at the data and see what's taking place in the economy as a whole. But understand: the goal of my plan is to provide tax relief to families that are struggling, but also to boost the capacity of the economy to grow from the bottom up. ”

“ The plan also calls for immediate tax relief for 95 percent of American workers, so that you who are being pinched, even if you still have a job, with rising costs while your wages and incomes are flat-lined, you'll actually have a little bit of extra money at the end of the month to buy the necessities for you and your children. ”

“ We have taken action to address our year-long economic slowdown. Tax rebate checks continue to arrive in Americans' mailboxes. The $40 billion in tax relief these rebates represent will nearly double next year to over $70 billion in tax relief, with more in each of the next 10 years, as the child credit gets bigger, tax rates come down, and the marriage penalty relief kicks in. ”

“ Contrary to these purposes, numerous tax regulations issued over the last several years have effectively increased tax burdens, impeded economic growth, and saddled American businesses with onerous fines, complicated forms, and frustration. Immediate action is necessary to reduce the burden existing tax regulations impose on American taxpayers and thereby to provide tax relief and useful, simplified tax guidance. ”