On the recordApril 14, 2010
Today I commend my colleagues and President Obama for working diligently to enact a variety of tax cuts totaling $800 billion. These tax cuts are broad based and touch on many aspects of American life, from investing in small businesses, to buying a home, to sending your children to college, to buying a car. I believe that tax cuts are helping American families and businesses across the country and injecting consumer demand into the economy and spurring business investment and job creation. The Recovery Act provides immediate tax relief to 95 percent of American workers and their families. The Making Work Pay tax credit provides a tax credit of up to $400 for working individuals and up to $800 for couples filing jointly. This tax credit helps over 240,000 families in my congressional district. In addition, the first-time home buyers tax credit was increased to $8,000. An estimated 35,000 households in New Jersey have taken advantage of the tax credit. So I ask to keep America moving in the right direction.
