Kagen Says Tax Cut Will Put Money In Workers’ Pockets
Washington, DC — Congressman Steve Kagen, M.D. said today that many people will begin to see bigger paychecks soon. Starting April 1st, the American Recovery and Reinvestment Act will provide 95% of American workers with a tax cut.
“I am working hard to get our economy back on track by putting more money in the pockets of my constituents and by investing our tax dollars in Northeast Wisconsin,” said Kagen. “The American Recovery and Reinvestment Act is transformational legislation because it includes a wide variety of ways we can help stimulate the economy and create jobs including this tax cut.”
This is the most rapid tax cut in American history and is guaranteed for at least 2 years. In the 8th Congressional District, 181,000 households will receive a refundable tax credit of up to $400 per worker ($800 per couple filing jointly), phasing out entirely at $200,000 for couples filing jointly and $100,000 for individual filers.
Congressman Kagen has announced American Recovery and Reinvestment Act investments throughout Northeast Wisconsin. Wisconsin Veterans Home at King will receive $2,278,600. Austin Straubel International Airport will receive $1,500,000 to restore their runway. Our area will be given over $800,000 through the U.S. Department of Justice. The U.S. Department of Housing and Urban Development is responsible for $6.5 million from the Recovery Act. Three community health centers in our area will receive a total of almost $500,000 thanks to the U.S. Department of Health and Human Services.
“We are creating jobs while providing affordable health care, services for veterans and making needed improvements to our infrastructure. This will take time, but I am confident that we are taking the steps necessary to stimulate our economic recovery,” said Kagen.
Kagen has also organized several events for small businesses to educate them on how to make the most of the provisions in the Recovery Act that are designed to unlock frozen credit markets through the Small Business Administration major programs – the 7 (a) program and the 504 program.
In April, the Congressman will begin a Listening Tour in his district. He will listen to the concerns of his constituents in six cities and discuss the many benefits in the American Recovery and Reinvestment Act and how they can take advantage of these opportunities. Banking experts and representatives from the Small Business Administration and Chamber of Commerce will join the Congressman.
