NITA LOWEY FOR CONGRESS

The economic relief and jobs creation bill provided tax cuts to 95% of American workers in 2009; provided targeted investments in clean energy, transportation and technology; and created and saved millions of jobs, including here in the Hudson Valley through:

• the Tarrytown Metro North Station project, medical research facilities,
• bridge repairs and replacements,
• teacher jobs saved through federal school budget support, and
• the Mamaroneck Wastewater Treatment Facility upgrades to name just a few.

Most economists credit federal economic recovery efforts with helping to avert an economic Depression and setting our nation back on the path of economic growth.

The Hire Act is providing targeted tax cuts to businesses that employ previously out-of-work hires.  This provision alone is likely to create 300,000 new jobs and provides new assistance to help small businesses with accelerated write-offs and other tax benefits. 

The Worker, Home Ownership and Business Assistance Act helped stabilize the U.S. housing market and help more families realize the American dream of home ownership by expanding the first-time homebuyer tax credit. I also provided emergency assistance to workers who lost their jobs as a result of the recession.

The Student Aid and Fiscal Responsibility Act is making college more affordable and accessible by increasing Pell Grants and assisting community colleges.  This law is also helping to confront the federal budget deficit by cracking down on needless and wasteful subsidies to loan providers.

Permanent estate tax relief, passed by the House of Representatives, would permanently exempt 99.8% of estates from any federal tax obligation, enabling families to hold on to assets and pass them on from generation to generation.