McMorris Extends Tax Relief to Provide Economic Growth in Eastern Washington
(Washington, D.C.) Congresswoman Cathy McMorris (WA-05) voted today in favor of H.R. 4297, The Tax Relief Extension Reconciliation Act of 2005 that will help Washington State residents keep more of their money. The bill includes tax provisions that will continue to create jobs and grow the economy.
“One of my top priorities in Congress is to provide for the growth and stability of Eastern Washington’s economy,” said McMorris. “Providing tax relief and reducing regulations leads to job creation and new economic opportunities for our small businesses, which are the backbone of our economy. This bill prevents a tax hike and allows people to keep more of their hard earned money.”
The bill includes a one-year extension for state and local sales tax deductions, a provision especially important to Washington State taxpayers. McMorris is a co-sponsor of H.R. 519 that would make the sales tax deduction permanent. The provision creates parity among States by allowing all taxpayers the option to deduct their State and local sale taxes in lieu of their State and local income taxes.
“Eastern Washington families and businesses should be able to deduct every penny of state and local sales tax they pay throughout the year from their federal tax bill, especially when people in most states are deducting their state income taxes. It is a matter of fairness. This one-year extension is a victory, and I am hopeful that soon we will be able to make these deductions permanent.”
The Tax Relief Extension Reconciliation Act contains pro-growth economic policies including:
State and local tax deductions,
Above-the-line deduction for higher education expenses,
Above-the line deduction for out-of-pocket teacher classroom expenses.
Enhanced charitable deduction for computer donations to schools and public libraries,
Availability of Archer Medical Savings Accounts