SINCE MAY OF 2003, the U.S. economy created 5.2 million jobs, approximately 2 million of which were created over the past 12 months, resulting in a historic five-year low unemployment rate. In order to maintain the pro-growth policies that helped to make this possible, both the House of Representatives and the U.S. Senate passed the Tax Relief Reconciliation Act. This legislation was signed into law by the President on May 17th. Extending these policies until 2010 ensures that the economic prosperity enjoyed today by families throughout Nevada will continue well into the future.

Today, nearly 28 million families will benefit by an average of almost $990 on their 2006 tax returns, and 8.5 million beneficiaries are seniors who received an average benefit of $1,144. Thanks to Congress' proactive efforts to extend tax relief, small businesses and communities across the state of Nevada and the entire nation will see continued economic growth through increased jobs and revenue.

I have continued to support tax relief because it is one of the primary driving forces behind Nevada's strong economy. We are the fastest growing state in the nation, and by reducing tax burdens on small businesses and families, we allow them to invest more in our economy.

This landmark legislation has been a priority for me and many of my colleagues, and I am pleased that it will soon become law. Republicans have long fought for lower taxes, and this month we were able to follow through with our commitment to the American people.