Doug Bereuter: “this Member is extremely pleased with the recently-agreed-to historic budget agreement which provides the first Federal…”

“this Member is extremely pleased with the recently-agreed-to historic budget agreement which provides the first Federal tax relief in 16 years in a balanced and fair manner. The taxpayer Relief Act, which we are considering today, is part of a very important budget agreement that provides major tax cuts to middle-income Americans, just as we have always said it would. It is a balanced, equitable measure that will give direct, immediate tax relief to low-middle and middle-income Americans. This Member is especially pleased that H.R. 2014 includes the capital gains provisions in a balanced tax relief package that will benefit low-middle and middle-income American families. Also, the $500-per-child tax credit, a variety of education-related benefits, and significant increase in inheritance or 'death' tax exemptions mean that low- and middle-income families are direct beneficiaries of the legislation before us. Furthermore, the tax relief package provides for expanded IRA's which remove some of the barriers imposed by the Tax Code to private savings, thus encouraging financial planning for education and first-time home purchases.”