December '09 Nevada Government—U.S. Congresswoman Dina Titus Column

Titus Votes to Extend Tax Relief and Prevent Higher Taxes

December 9, 2009 – Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District voted today to provide approximately $31 billion in tax relief to individuals and businesses by extending more than 40 tax breaks for an additional year. The Tax Extenders Act of 2009 passed the House by a vote of 241 to 181.

“This package of tax breaks is critical to so many people and businesses across Nevada,” Congresswoman Titus said. “From our young adults pursuing a college education to our teachers who are constantly asked to do more with less, this package reduces tax burdens at a time when every dollar counts for many Nevadans. Extending the sales tax deduction is particularly important to the Silver State and protects families during this tough economic time from seeing an increase in their taxes.”

The legislation includes more than $5 billion in individual tax relief, more than $17 billion in business tax relief, and more than $7 billion in tax relief extensions that encourage charitable contributions, provide community development incentives, and support the deployment of alternative vehicles and alternative fuels. The Tax Extenders Act of 2009 does all this without adding to the deficit.

Key provisions include an extension of the:

Deduction of state and local sales taxes. This is critical to citizens in states like Nevada which do not have state income taxes. Nevadans can take an itemized deduction for state and local sales taxes in lieu of the itemized deduction for state and local income taxes.
Standard deduction for property tax. Although homeowners can deduct property taxes as itemized deductions, those who do not have enough itemized deductions to file them separately do not benefit from the itemized property tax deduction. This provision provides an additional standard deduction of property tax if the taxpayer does not itemize.
$250 deduction for out-of-pocket expenses for elementary and secondary school teachers. Titus has introduced legislation to increase this tax deduction as well as extend it beyond classroom teachers to include other educators, such as principals, aides, and early childhood teachers.
Charitable deduction for small businesses such as grocery stores and restaurants that donate food for hungry Americans. Prior to its enactment, a deduction for food inventory had previously been available only for larger corporations.
$4,000 deduction for higher education expenses and tuition.

Titus: Estate Tax Relief Will Create Certainty for Small Businesses

December 3, 2009 – Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District voted today to provide tax relief for families, farmers, and small businesses by protecting 99.8 percent of estates from taxes. H.R. 4154, which passed by a vote of 225 to 200, permanently extends estate tax relief by maintaining the estate tax exemption at $7 million per couple instead of letting it drop to $2 million in 2011. It also maintains the current tax rate of 45 percent.

“Permanently addressing the estate tax and enacting tax relief for our nation’s small businesses will provide a measure of certainty and stability that all businesses need to grow and prosper,” Congresswoman Titus said. “Although this legislation is not perfect, taking this important action will raise the exemption to protect businesses that are passed on to family members and ensure that businesses are not hit with a higher estate tax in the coming years.”

Without the bill, the estate tax would be eliminated entirely in 2010 and then jump to 55 percent in 2011 and apply to all estates above $1 million per individual. Under this legislation only 7,600, or only 0.2 percent of estates, will be subject to the tax.

The House-passed bill also includes statutory pay-as-you-go (PAYGO) legislation that requires Congress to offset new spending. PAYGO rules, which were instituted during the 1990s and helped bring down the deficit and create a $5.6 trillion surplus, lapsed during the Republican administration.

“Under PAYGO, the government can only spend a dollar if it saves a dollar elsewhere. By reinstating this important provision, Congress will recommit to fiscal responsibility as we work to reduce our deficit and turn our economy around,” Titus added.

Titus Statement on Announcement that FEMA Training Exercise Will Not Take Place in Las Vegas

December 3, 2009 – Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District released the following statement today on the news that the Department of Homeland Security will no longer hold a Federal Emergency Management Agency (FEMA) training exercise in Nevada that would have simulated the detonation of a nuclear device on or near the Las Vegas Strip. Titus expressed her concerns with the training exercise to Secretary Napolitano in a letter last month. [Letter in PDF format]

“Today’s announcement that the Department of Homeland Security has ruled out Nevada as the location for a training exercise simulating the detonation of a nuclear device is welcome news. With our state facing a number of economic challenges, now is the wrong time for this type of security exercise that could deal another blow to Southern Nevada’s tourism industry.

“Training exercises that prepare our country’s first responders to react to a disaster are vital to our safety and security. However, it is critical that these exercises are done at a time and in a manner that does not negatively impact the community in which they take place. Hosting a FEMA training exercise is a unique opportunity, and I will continue to work with the Department of Homeland Security and FEMA on training exercises that are appropriate not only for Southern Nevada’s distinct security concerns but for our local economic concerns as well.”