And Now, A Word From Our Congressman

This Op-Ed from Patrick Murphy appeared today in the Bucks County Courier Times...

Despite signs across the country and here in Bucks County that the economy is on the mend, families everywhere are still hurting and need tax relief. That's why I'm proud to say that despite some misconceptions out there, taxes today are much lower than they were when President Obama first took office.

Don't take it from me.

President Reagan's domestic policy adviser, Bruce Bartlett, recently stated that, "Federal taxes are very considerably lower by every measure since Obama became president."

Here's how.

We're not out of the woods yet, but there are plenty of reasons to be optimistic - like the fact that 162,000 jobs were created last month. While years of fiscal policy in Washington and turn-a-blind-eye approach to Wall Street caused the worst economic crisis since the Great Depression, we have begun to see positive economic signs across the country. Our economy is growing again: In the most recent quarter, it grew by 5.9 percent, the fastest rate in six years and a 12.3 percent turnaround in one year. Local banks, like the First Savings Bank of Perkasie, have increased lending. People who'd given up are actively looking for work, and businesses are starting to hire again.

But let me be clear: Our work here is not done. I will continue to champion tax relief to help middle-class families get back on their feet and to help small businesses create jobs.

Already this year, the average tax return is up nearly 10 percent - or $266 - from a year ago, due in large part to the tax cuts we passed to help struggling families weather the economic downturn. That's hundreds more dollars that families have to pay their bills and invest in their future.

The Recovery Act passed last year was the largest tax cut in American history, putting more money in people's pocket to start a family, buy a home, start a business, or pay off loans. These investments laid a strong foundation for jumpstarting our economy and getting people back to work.

The Recovery Act included more than a dozen benefits that taxpayers can claim when they file their 2009 returns, such as the Making Work Pay Tax Credit. More than 283,000 Bucks County families are getting this credit of $800 for married couples and $400 for individuals, in both 2009 and 2010.

Taxpayers are also getting help paying for their kids' college expenses. More families and students are eligible for up to $2,500 in savings to help pay for college, and taxpayers can claim the credit for four years instead of two.

And anyone who buys their first home before April 30, can get a credit of up to $8,000 to offset the cost, helping hundreds of thousands of folks, like Emma Adeho from Morrisville, purchase their first home. The credit also generated more than 300,000 construction jobs nationwide.

I've also worked with Democrats and Republicans to pass property tax relief for seniors struggling on fixed incomes and to provide businesses with tax credits for hiring new employees. Perhaps most importantly, I worked to pass $40 billion in tax cuts to help small businesses offset the cost of providing health insurance to their employees. For the first time, small business owners like Joe Frederick in Doylestown can get a tax credit to help cover up to 50 percent of the cost of providing their workers with health insurance.

As filing day approaches, I want to encourage all taxpayers to research the many new deductions and benefits they can collect. If you have questions or comments regarding a particular deduction or a question about your return, please contact my office for assistance at 215-826-1963.

Another resource to help Americans better understand what tax benefits they are entitled to under the Recovery Act is an online interactive "Recovery Act Tax Savings Tool." By answering a couple of quick questions like your filing status and income, this step-by-step calculator allows you to view the tax credits and the amount for which you are eligible. It can be found at: www.whitehouse.gov/recovery.

I am proud of my record of responsibly cutting taxes for middle-class families in Bucks County, and rest assured I will continue to fight for you as we get our economy back on track.

To contact Patrick Murphy, click here.