The Times-Standard
Posted: 04/17/2010 02:06:53 AM PDT
With most Americans having filed tax returns this week, North Coast Congressman Mike Thompson, D-St. Helena, reminded his constituents of 25 different tax cuts totaling more than $800 billion passed by this Congress.
”We have focused on cutting taxes for ordinary Americans,” Thompson said in a press release. “And, it's worked. According to IRS figures, the average tax refund this year is $3,000, which is nearly 9.4 percent larger than last year's average. The Recovery Act was the largest tax cut in history, and it's making a difference for working families.”
A report released this week by the Citizens for Tax Justice shows that since January 2009, 98 percent of American families have seen their taxes cut, according to the release from Thompson's office. The cuts saved working families and individuals an average of $1,158 on their tax returns, according to the release.
Bruce Bartlett, President Ronald Reagan's domestic policy advisor, stated that “federal taxes are very considerably lower by every measure since Obama became president,” according to the release.
Thompson highlighted several tax cuts he thought were making a particularly important impact on local communities:
* The Making Work Pay tax credit -- Ninety-five percent of working families received this credit of $400 for an individual or $800 for married couples filing jointly in 2009, and will continue to see these benefits in 2010, according
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to the release. In Thompson's congressional district, almost 250,000 families are benefiting from the credit.
* Tax credits for college expenses -- Provides eligible families and students with up to $2,500 in tax savings.
* Tax credits for energy efficient renovations -- Taxpayers are now eligible for up to $1,500 in tax credits for making energy-efficient improvements to their homes, such as adding insulation and installing energy-efficient windows.
* Alternative Minimum Tax -- Some 26 million middle-class families are protected from the alternative minimum tax, including 45,000 filers in the 1st Congressional District. The tax was originally designed to affect only the very wealthy, but has not been adjusted for inflation since it was originally written.