Max Baucus: “in only two weeks, many critical tax incentives will expire. These provisions are vitally important to many families and…”

“in only two weeks, many critical tax incentives will expire. These provisions are vitally important to many families and businesses. Once again, Congress is leaving town without taking care of business. Once again, Congress is creating uncertainty. During these tough economic times, uncertainty in the tax arena is the last thing that Americans need. Today families are struggling because of lost jobs and high costs. Extending expiring tax incentives will help many American families get through these tough times. For example, with the rising cost of a higher education, families need help to cover their costs. The Tax Code includes a tuition deduction to assist college students with the rising cost of tuition. In 2009, about 2.4 million families took this much needed benefit. Also expiring is a provision that gives tax relief to the people that we trust with America's future, our children. Many teachers dedicated their lives to educating our young people. To further this endeavor, teachers take money from their own pockets to buy supplies for the classroom. Many do not get much help with these costs. The least we can do is provide a little tax relief. This bill would extend the teacher expense deduction. Over 3.8 million families took this deduction in 2009. There are also several provisions expiring that benefit American businesses. Without the tax incentives, businesses will have less certainty and fewer tools to compete in the global arena.…”