Mike Levin: “this bill covers a number of important areas. The so-called ``tax extenders'' provisions will continue a number of…”

“this bill covers a number of important areas. The so-called ``tax extenders'' provisions will continue a number of expired or expiring tax incentives that are important to our economy. These include the critical tax credit for research and development done here in the U.S. The bill also extends the Welfare to Work and the Work Opportunity Tax Credits, which encourage employers to hire certain long-term family assistance recipients and members of targeted groups such as high risk youth, families receiving food stamps, SSI recipients, and qualified veterans. Another important extension is the deduction for the out-of-pocket expenses of elementary and secondary school teachers of up to $250 for books and other supplies. And there is a deduction of up to $4,000 for qualified tuition and related expenses. There is also a provision to provide equity to the U.S.-flag ships operating in the Great Lakes. I am also pleased that this Congress is addressing the annual dilemma of appropriate reimbursement for physicians treating Medicare patients. The current Medicare reimbursement system is flawed, and without action, doctors treating Medicare patients would have faced a 5% reduction in reimbursement. I am pleased that this legislation will halt those cuts and I urge the 110th Congress to take a serious look at overall Medicare reimbursement so that we do not make this an annual affair.”