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Larson on Passage of House Tax Extenders Measure

December 3, 2014

Washington – Rep. John B. Larson (CT-01) released the following statement today on the passage of H.R. 5771, the ‘Tax Increase Prevention Act of 2014’:

“For nearly a year, businesses and individuals across the nation have been lost in the void between expired or expiring tax credits and a Congress unwilling to work together. While the short-term bill passed in the House today was the only option short of inaction, my priority remains tax reform to provide certainty for the American people.

“I am proud to have fought for many aspects of today’s measure, including the bipartisan Research and Development Tax Credit that has long helped Connecticut businesses and manufacturers create jobs and lead the way in innovation. I am also pleased to see the passage of mortgage debt forgiveness provisions that ensure Americans are not taxed on mortgage debt they have already cancelled. I remain disappointed, however, that the bill put to a vote only provides retroactive and short sighted relief.

“More than 500 local and national organizations have urged the extension, enhancement or permanency of a number of tax provisions including Feeding America, the U.S. Chamber of Commerce, Habitat for Humanity and more. From the business community and charitable organizations to nonprofits and working families, these tax provisions are crucial across the board. I am disappointed that, despite having the ability to work together towards a solution, Congress could not get a longer-term deal done.”

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