Homeowners, Veterans & Small Businesses Benefit from Halvorson Sponsored Provisions in Tax Credit Bill
December 10, 2009 – (RealEstateRama) — Working to reduce burdens on our families, small businesses, and veterans, Rep. Debbie Halvorson (IL-11) today voted to pass the Tax Extenders Act of 2009, H.R.4213, which would extend a number of tax relief provisions through 2010.The Tax Extenders Act of 2009 contains three pieces of individual legislation sponsored by Halvorson, which were included into the larger bill. The first, H.R. 2146, would extend an additional standard deduction for state and local real property taxes for homeowners, which would save homeowners money on their tax returns.
“As we’ve worked to stop the economic free fall this Congress inherited, we must do everything we can to help rebuild our economy and help families and small businesses,” said Halvorson. “I’ve worked to include provisions in this bill that would directly benefit my constituents and that would help them keep their own money in their pockets.”
The second provision, originally the Small Business Supporting Our Troops Act, H.R.2396, would extend a tax credit that provides small businesses with incentives pay the difference in salary between military pay and a soldier’s civilian job, when the soldier is called up to serve. This bipartisan provision would help small businesses continue to provide additional economic support to the families of soldiers that are deployed overseas.
The final piece of Halvorson-sponsored legislation included in the bill, the Renewable Energy Investment Act, H.R.3909, would extend a tax credit that would encourage investment in biodiesel and biomass fuels, which are renewable and made in America.
The Tax Extenders Act of 2009 also contains a provision co-sponsored by Halvorson, the Railroad Track Maintenance Tax Credit, H.R.1132, which would extend a tax credit that encourages additional infrastructure investments and works to grow jobs within the transportation sector.
“We’ve seen these tax credits succeed over the last year,” said Halvorson. “I’m proud to have voted to extend these tax credits, and to continue to work to deliver meaningful legislation that directly benefits people back in our district. Whether it’s a veterans’ family who can better make ends meet because we’re helping their employer, a family that gets to keep more of their hard earned pay, or an investor who can use these credits to help America lead in clean energy, this bill will help many of my constituents.”
The bill, H.R. 4213, now goes to the Senate for consideration.
