Salinas Calls on Speaker Johnson to Swiftly Pass Bipartisan Tax Deal
Washington, DC – Today, U.S. House Representative Andrea Salinas (OR-06) sent a letter to Speaker Mike Johnson, calling for immediate consideration of the bipartisan, bicameral tax deal negotiated by Senator Ron Wyden (D-OR) and Representative Jason Smith (R-MO), the Chairs of the Senate Finance and House Ways and Means Committees.
“The Tax Relief for American Families and Workers Act of 2024 will address critical issues facing Americans at a time when my constituents – and families across the country – are navigating heightened prices due to inflation, high housing costs, and supply chain disruptions,” Salinas wrote.
Notably, the tax deal expands both the Child Tax Credit (CTC) and Low-Income Housing Tax Credit (LIHTC). Rep. Salinas has been a strong advocate for expanding the LIHTC through the Affordable Housing Credit Improvement Act. Key elements of this bill were included in the tax deal. The deal also extends research and development tax credits to support businesses and spur economic development in Oregon.
“It is imperative we work quickly to make sure these credits can reach Americans’ pocketbooks in the current tax filing season,” Salinas continued. “I appreciate your consideration, and I urge you to advance this legislation with the utmost urgency.”
Read the full letter below or click here:
Dear Speaker Johnson,
I write to respectfully request prompt floor consideration of the bipartisan and bicameral Tax deal negotiated by Chairs Wyden and Smith. The Tax Relief for American Families and Workers Act of 2024 will address critical issues facing Americans at a time when my constituents – and families across the country – are navigating heightened prices due to inflation, high housing costs, and supply chain disruptions.
I am particularly pleased that the deal includes an expansion of the Low-Income Housing Tax Credit (LIHTC). In recent years, Oregon has experienced one of the sharpest increases in homelessness in the country, rising 22.5% from 2020 to 2022, with over 14,000 Oregonians experiencing homelessness at that time. LIHTC is one of the most powerful federal tools available to incentivize affordable housing development and preservation. I have been a strong advocate for expanding this tax credit by passing the Affordable Housing Credit Improvement Act, and I am glad to see key elements of that bill incorporated in this agreement.This legislation will help finance over 200,000 more affordable housing by expanding and strengthening LIHTC to increase the housing supply, lower the cost of living, and support economic development.
The expansion of the Child Tax Credit (CTC) agreed to by negotiators would also mark a huge victory for working families across the country. This deal would particularly help families with multiple children, by calculating the credit on a per-child basis. Tying the value of the credit to inflation will ease the burden of future inflationary periods and help families weather economic uncertainty. During the pandemic, the expanded CTC helped cut child poverty nearly in half. Passing a permanent expansion of this commonsense policy will provide parents a degree of financial security and ensure kids are afforded a fair chance at reaching their full potential.
I am also thankful that negotiators were able to include extensions of research and development tax credits for business. As we roll out unprecedented federal investments in high-tech and clean energy R&D and manufacturing, we must make sure businesses of all sizes have the support they need to drive local economic development in communities across Oregon and develop new technologies with the potential to transform society.
Working families in Oregon – and across the country – are dealing with higher costs of living driven by two years of high inflation, international supply chain disruptions, and housing shortages. The Tax Relief for American Families and Workers Act of 2024 will give families more economic security, build hundreds of thousands of new affordable housing units, and spur innovation that drives our local economies. It is imperative we work quickly to make sure these credits can reach Americans’ pocketbooks in the current tax filing season. I appreciate your consideration, and I urge you to advance this legislation with the utmost urgency.
Sincerely,
Andrea Salinas
Member of Congress
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