December 14, 2010

Washington, DC – Yesterday, Reno TV station KTVN highlighted how specifically the middle-class tax relief legislation will benefit Nevada’s families, small businesses and those looking for work.

They noted that the tax cut legislation provides much-needed relief by reducing the burden on middle-class families by cutting payroll taxes, extending the state sales tax deduction, and ensuring unemployment benefits are not ended. 
 
Watch the KTVN telecast here: Tax Relief Bill Brings Much-Needed Relief to Nevadans

BACKGROUND ON THE MIDDLE-CLASS TAX CUT LEGISLATION:

•  Extends the tax cuts for Nevada’s middle class families.
• Reduces payroll taxes by $120 billion  
• Extends unemployment insurance benefits for 13 months 
• Extends the American Opportunity Tax Credit for families paying college tuition, the Child Tax Credit and the Earned Income Tax Credit.  
• Allows businesses to deduct 100 percent of certain investments in the first year.  
• Extends for two years the state and local sales tax deduction.  
• Extends Alternative Minimum Tax relief for two years.  

• Extends incentives that have been important for Nevada’s developing clean energy industry.

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