Once Again, Stevens Votes Against Tax & Energy Relief For Alaska FamiliesAnchorage, Alaska – U.S. Senator Ted Stevens (R-AK) voted against legislation today which would have provided tax relief for Alaska families and communities as well as support for Alaska families and communities looking to cut energy costs. [Roll Call Vote #150] This is the second time in two weeks that Stevens has voted against this measure. “Senator Stevens is out of touch with the priorities of Alaska families,” said Bethany Lesser, spokeswoman for the Alaska Democratic Party. “This bill would have made a difference to families trying to pay their energy bills, made college more affordable, and helped Alaska companies create new jobs through investments in renewable energy. Unfortunately, Stevens continues to leave Alaska families behind.” Specifically, The Renewable Energy and Job Creation Act included: · $18 billion increase in incentives for renewable energy entrepreneurs to promote energy independence and create jobs, including wind, solar, biofuels, energy efficiency of buildings, and research into clean coal technology.
· $3 billion in Energy Conservation Bonds to help state and local governments reduce energy costs and $1 billion to help homeowners make energy-efficiency improvements.
· Extending the college tuition deduction. College tuition in Alaska rose 29 percent since 2000 to $4,422 per year, making it more difficult to afford college. [Institute of Education Sciences, U.S. Department of Education. Digest of Education Statistics "Average undergraduate tuition and fees and room and board rates charged for full-time students in degree-granting institutions, by type and control of institution and state or jurisdiction"]
· $3 billion in funding to continue the Secure Rural Schools Act to help schools in traditionally timber-based communities.
· Continuing the deduction for local sales tax.
· Expanding of the child tax credit to extend the $1000-per-child tax credit to reach an additional 2.9 million children nationwide.
· Extending the teacher expense deduction, which allows Alaska’s nearly 8,000 teachers to save $2 million in deductions for buying supplies for their classrooms.
· Continuing the research and development tax credit, which help American businesses innovate. More than 27,000 businesses will take this credit in 2008.
· A one-year patch for the alternative minimum tax (AMT). Without a fix, this tax would reach 27 million people nationwide this year. Had the legislation reached the 60 votes needed to meet cloture, the final bill would have included a provision that allows plaintiffs of the Exxon Valdez oil spill to average any settlement that they receive in connection with pending litigation in the federal courts over three years for federal tax purposes and allow these individuals to use these funds to make contributions to retirement accounts. However, the bill failed 52-44, thus blocking the Exxon Valdez provision from consideration. # # # |
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