MALONEY VOTES TO HELP CONTINUE AMERICAN JOB CREATION, ECONOMIC GROWTH
“My number one priority is keeping jobs in this country and putting hard-working Americans back to work,” Maloney said. “This bill will support more than a million American jobs by helping restore credit to small businesses, extending the R&D tax credit, rebuilding American roads and bridges, and providing tax relief for millions of middle class American families. It also extends unemployment benefits for Americans who lost their jobs through no fault of their own."
The tax benefits to middle class Americans – property tax relief, state and local sales tax deductions, and college tuition deductions – are paid for by closing the tax loopholes that big businesses have exploited to ship jobs overseas and that allowed Wall Street billionaires to pay a much lower tax rate on their income. The bill also promotes corporate accountability for the oil industry, boosting the amount oil companies must pay into the Oil Spill Liability Trust Fund – so taxpayers are never stuck with the bill for the risky practices of the industry.
The American Jobs and Closing Tax Loopholes Act includes provisions supported by over 125 key organizations, unions and non-profits, including the U.S. Conference of Mayors, AARP, the American Farm Bureau, the National Restaurant Association, and businesses in the R&D Tax Credit Coalition.