[Congressional Record (Bound Edition), Volume 156 (2010), Part 15]
[House]
[Page 22722]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   MIDDLE CLASS RELIEF IN TAX PACKAGE

  (Mr. PALLONE asked and was given permission to address the House for 
1 minute.)
  Mr. PALLONE. Mr. Speaker, last night, the House finally passed on a 
bipartisan basis and sent to the President a middle class tax relief 
package which also included extended unemployment insurance. For the 
middle class, it provides tax relief of $1,500 for a typical working 
family with income up to $75,000; $1,000 for income at $50,000; and 
$500 for incomes of $25,000. It also includes extended unemployment 
insurance, a 13-month extension of Federal support for 99 weeks of 
unemployment insurance for laid-off workers.
  The package also includes the child tax credit, extends the child tax 
credit for 2 years. It's worth about $1,000, doubled from $500 for 
qualifying children under the age of 17. And a payroll tax cut creates 
a $120 billion payroll tax cut that's worth about $1,400 for the 
average New Jersey household of $71,000 in average income. Alternative 
minimum tax relief, earned income tax credit, higher education tax 
credit to help afford sending your children to college, and also tax 
cuts for business investment, basically allowing businesses to expense 
all of their qualified investments in 2011.
  I think it was very important that we passed this, Mr. Speaker. I'm 
glad it's now going to the President.

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