Alexander, Corker vote for sales tax deduction
From Staff ReportsOriginally published: September 25. 2008 3:01AM
Last modified: September 24. 2008 11:52PM
WASHINGTON — U.S. Sens. Bob Corker and Lamar Alexander, R-Tenn., both voted for passage of H.R. 6049, the Renewable Energy and Job Creation Act of 2008, which extends various expiring tax provisions, including state sales tax deduction for Tennessee.
"The state and local sales tax deduction will mean on average $400 in tax relief for nearly 600,000 Tennesseans," Alexander said in a press release. "While this bill extends the deduction for two years, we still need a permanent fix, and I will continue pushing for legislation to do just that."
Alexander said the bill also includes measures to:
Extend the research and development tax credit for two years to encourage job creation.
Expand eligibility for the Child Tax Credit ($1,000 per child under 17) to more families.
Extends the Solar Tax Credit for eight years.
Provides a $2,500 to $15,000 tax credit for plug-in cars and trucks.
Encourages the development of cellulosic ethanol, made from crops we don't eat.
Encourages energy-efficient appliances and "green buildings."
Corker did criticize the funding of the bill.
"We should have fully paid for this bill," he said. "I'm concerned we are missing an opportunity to inject some much needed fiscal discipline into this Congress, but I recognize how important provisions in this bill are to American families and our economy."
The Senate passed the legislation by a roll call vote of 93 to 2.
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