Friday, December 10, 2010

Boren Applauds Tax Cut Extension

Congressman Dan Boren expressed his support today for the tax proposal reached by compromise late Thursday evening in the U.S. Senate.

The legislation has been introduced in the Senate as the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and it includes an extension of the Bush tax cuts for thousands of working families in Oklahoma, as well as several tax credit provisions that are critical to strengthening growth and job creation for the state’s economy.

“I applaud the leadership of the President and the Republican Minority for putting together a pro-growth, pro-job, bipartisan proposal that will get the American economy moving again. It is my hope that the Senate will move quickly to pass this measure, and that the U.S. House will vote on it next week and then send it to the President for his signature,” said Boren.

“We cannot allow partisan politics to stand in the way of accomplishing what an overwhelming number of Americans want – an extension of these tax cuts. We must help provide certainty to the American economy and prevent any tax hikes on families and businesses during these tough economic times.”

Specifically, the deal reached in the U.S. Senate provides a two-year extension of all the Bush tax cuts, including a full extension of the individual income tax rates, the full extension of the child tax credit, an extension of the capital gains and dividend rates, a long term reduction in the estate tax, and several additional tax provisions targeted toward working families.

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