On the recordDecember 2, 2010
I rise in support of this legislation. Today's vote is an affirmation of this Congress' commitment to middle class Americans and a crucial step in getting our economy back on track. This tax cut extension does not exclude anyone. What it does is permanently extend middle-income tax relief, which will provide much-needed certainty to our small businesses and our entrepreneurs and create conditions for long-term growth while still dealing responsibly with the Federal deficit--and let us not forget that it is a burgeoning deficit. This legislation ensures that on January 1 every American will be paying lower taxes than under current law. It will extend relief from the alternative minimum tax for 2 years and provide permanent relief from the marriage penalty. It also permanently extends tax credits like the improved child tax credit, simplified earned income tax credit, and numerous benefits for education. For our small business owners, we are also permanently increasing the amount they can expense so they can quickly realize the benefits of their capital investments. These provisions are critical to Nevada's economic recovery.
