Victims' Rights Caucus

Press Releases

Congressman Ted Poe (TX-02) joined House and Senate Republicans this week in passing H.R. 4297, the Tax Increase Prevention and Reconciliation Act. This act extends alternative minimum tax relief, the increased spending limit on small business expensing, and the low rates on capital gains and dividends. The best thing government can do is get out of the way of the hard working Americans that make this country great. The fewer burdens we place on small business owners and working families the more productive our economy will be, Poe said.

Among other things, the Tax Increase Prevention and Reconciliation Act will do the following:
  • Extend alternative minimum tax relief for an additional year.
  • Extend the increased limit on small business expensing.
  • Extend the lower tax rate on dividend income through 2010, thus preventing a $13 billion tax increase over the next four years. 1 in 2 taxpaying senior citizens will benefit.
  • Extend the lower tax rate on capital gains income through 2010, thus preventing a $7 billion tax increase over the next four years. Nearly 1 in 3 senior citizens will benefit.

Impressive Economic Numbers:
  • 138,000 jobs created in April.
  • Approximately 2 million jobs created over the past 12 months.
  • More than 5.2 million jobs created since August 2003.
An unemployment rate of 4.7 percent lower than the average of the 1960s, 1970s, 1980s, and 1990s.
  • Gross domestic product (GDP) for the first quarter of 2006 grew at a robust 4.8 percent.
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