As today is Tax Day, it is important that Americans are aware of the savings in tax cuts brought to them over this past year. In conjunction with President Obama, we have ensured that tax breaks no longer focus only on the wealthy, but rather the entirety of hard working Americans.
With the enactment of the Recovery Act, we were able to provide tax breaks for many aspects of American life- from investing in a small business, to investing in energy efficiency, to sending children to college, to buying a new car. These tax reductions are helping families and businesses across America get back on their feet while spurring business investment and job creation. All totaled, Congress has enacted over $800 billion in tax cuts- including 25 within the Recovery Act.
Perhaps, one of the most critical provisions of the past year was the Making Work Pay tax credit, which is dedicated to providing 95% of all American workers with a tax break- including 254,000 residents in my District alone through a reduction in tax withholdings by their employer.
Mr. Speaker, as Americans return their tax forms today, a majority will find that a portion of their burden has been lifted through swift action this Chamber has taken over the last year.
I yield back.