Washington, D.C – Today the U.S. House passed a major plan to provide tax relief to middle class American families. The bill, Temporary Tax Relief Act of 2007 (H.R. 3996) passed the House 216 to 193, with Congresswoman Schwartz’s support.

Congresswoman Schwartz released the following statement in strong support of the bill.

“This Congress is committed to moving our country in a new direction.  We recognize that families across this country are struggling with everyday living expenses, and with this bill we are going to help millions of Americans get tax relief.

“Our work will protect 23 million Americans – including over 60,000 of my constituents – from the unexpected and difficult cost of the Alternative Minimum Tax. The Alternative Minimum Tax, the AMT, was originally intended to ensure that the very wealthiest taxpayers pay their fair share of taxes. But the AMT is increasingly being paid by middle income families, and in fact, next year tens of millions of these hard working taxpayers will be engulfed by the AMT if this Congress does not act.

“This bill provides tens of millions of middle-income homeowners with immediate property tax relief.

“It expands the child tax deduction, helping millions of families.

“And it ensures that parents, who often work tirelessly to send their children to college, will get tax deductions for college tuition.

“This middle class tax relief is based on the principle of tax fairness.  And it is paid for. Unlike tax efforts under the Republican Congress, our bill will not add to the national debt.  It will not leave debt to be paid for by our children and grandchildren. It will not add to the debt that weakens the dollar and undermines our economy.

“The Democratic majority is unambiguous. We are committed to fiscal responsibility, to paying as we go, to making the tough decisions required to refocus national priorities, and to giving middle income families the break they deserve.

“A vote for this bill is a vote for tax relief and tax fairness.   It is a vote for economic growth. And it is a vote for honest budgeting.

“Our constituents didn’t send us here to make easy decisions – they sent us here to make responsible ones.

“And today, the Democratic majority made the responsible decision of providing tax relief to millions of working families.”

Key Features of Bill: 

• Protects 23 million middle-class families from being hit by the Alternative Minimum Tax
• Provides 30 million homeowners with property tax relief
• Helps 12 million children by expanding the child tax credit
• Benefits 11 million families  through the State and local sales tax deduction
• Helps 4.5 million families better afford college with the tuition deduction
• Saves 3.4 million teachers money with a deduction for classroom expenses
• Provides thousands of American troops in combat with tax relief under the Earned Income Tax Credit.

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