December 2007 Archives

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Congress Approves Middle Class Tax Relief Bill;

WASHINGTON, D.C. – Millions of middle class taxpayers will be spared from paying thousands of dollars each in new taxes next year thanks to a major tax relief bill approved by Congress today. The Alternative Minimum Tax (AMT), which was put into place in 1969 to ensure that the wealthiest individuals did not escape paying any taxes at all, would have unintentionally impacted 23 million middle class taxpayers had Congress not intervened this month.

This bill will protect more than 50,000 households in Congressman George Miller’s (D-CA) congressional district of Solano and Contra Costa counties from an unintended but steep tax hike, and two and half million taxpayers across California, many of whom are average Americans like teachers and firefighters.

This year, rather than concentrated in the upper income brackets, the AMT would have increasingly fallen on middle-income taxpayers: In Miller’s district alone, 5,888 people earning less than $75,000 would have started paying the AMT, nearly twenty-five times the number of taxpayers in that bracket who had to pay it in 2005. In addition, without Congressional action, 14,469 taxpayers in Miller’s district making between $75,000 and $100,000 would have to pay the AMT in 2007, up from only 394 such taxpayers in 2005.

The number of California households paying the AMT would have jumped from 636,463 to over three million -- an increase of 376 percent.

In 2005, 7,537 households in Miller’s congressional district paid the AMT. This tax year, 58,558 households would be forced to pay it – a 677 percent increase – if Congress had not adopted this one-year temporary fix. Passage of this bill means that 51,021 middle class households in Miller's congressional district would be spared the financial burden of the AMT. The bill provides an estimated $50 billion in AMT relief nationwide.

Last month, the House passed the first version of this bill, which included offsets to pay for the tax cuts and adhered to ‘pay-as-you-go’ rules adopted by the new Congress in January. But under pressure from Senate Republicans and a veto threat from the White House, the Senate refused to pay for the $50 billion in AMT savings.

“This bill comes as a huge relief to thousands of middle class Americans in my district and millions throughout the state who were never intended to be caught up in the alternative minimum tax,” Miller said. “This bill provides welcome relief. I must say, however, that it is very unfortunate that the White House and Senate Republicans would not allow us to pay for this bill now, charging it instead against the nation’s credit card and adding to the debt of future generations. Because the Senate and the White House refused to pay for this bill, I voted against the bill to make clear my position that the federal government must adhere to the pay-as-you-go rules we adopted earlier.

“The Senate stripped language from the original House version of the bill that would have required the tax relief to be paid for by a narrow group of highly successful hedge fund managers who have been using loopholes and special-interest tax breaks to get away with paying less than their fair share in taxes for far too long. Our proposal was reasonable and fair. It is unconscionable that the White House and Senate Republicans refused to go along with it and that they chose instead to pass the buck onto the debt of future generations.

“I look forward to passing a permanent, fiscally sound fix to the AMT next year. Hopefully the President will not object as he did this year. Overall, I am glad that Congress intervened on behalf of millions of middle class Americans who would have felt a tighter squeeze in today’s economy and will now not be forced to pay the AMT this year,” said Miller.

Impact of the AMT on Miller District:

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Posted by PDP-Staff at 08:18PM | Comments (0) | TrackBack (0)

Historic Energy Bill Will Increase Fuel Efficiency Standards
President Bush to Sign Democratic Bill Into Law

WASHINGTON, DC – For the first time in 32 years, Congress has approved an increase in automobile fuel efficiency standards. This critical step is part of a larger historic energy bill that will help cut greenhouse gas emissions, save consumers money, and make America more secure. Rep. George Miller (D-CA) called the measure a major achievement for consumers, the environment and the economy and said it was ‘Exhibit A’ in the difference an election makes.

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Posted by PDP-Staff at 09:40PM | Comments (0) | TrackBack (0)

House Approves Bill That Would Help VA Employee From Hercules Keep His Job

WASHINGTON, D.C. – A Hercules man came one step closer today to saving his16 year-long career with the Veterans Administration in San Francisco.

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Posted by PDP-Staff at 10:33PM | Comments (0) | TrackBack (0)