Davis Votes to Create American Jobs, Cut Taxes for Working Families and Small Businesses

Washington, D.C. -- U.S. Rep. Lincoln Davis today voted for the American Jobs and Closing Tax Loopholes Act, legislation aimed to help create badly needed jobs and cut taxes for Tennessee's hard working families and small business owners.

"As we continue digging out from this devastating recession the best thing to do is to help ease the tax burden Tennessee's small businesses face so they can invest their hard earned money into growing their company and putting Americans back to work," said Rep. Davis. "Our jobs need to stay in Tennessee and one way to make sure that happens is by closing loopholes that encourage companies to ship jobs overseas."

The American Jobs and Closing Tax Loopholes Act will help create American jobs by helping restore credit to small businesses, rebuilding our decaying roads and bridges, and providing tax relief for millions of working American families. The bill also extends unemployment benefits for Americans who lost their jobs.

Direct tax benefits to working Americans include property tax relief, state and local sales tax deductions, and college tuition deductions. These are paid for by closing the tax loopholes that big businesses have exploited to ship jobs overseas and that allowed Wall Street billionaires to pay a much lower tax rate on their income.

Provisions, among others, included in the legislation would:

* Provide tax relief to businesses and assist state and local governments to help them invest in infrastructure and create jobs.

* Provide important tax cuts to put money back in the pockets of working families.

* Help restore the flow of credit to enable small businesses to expand and hire new workers.

* Enhance and expand tax assistance for those living in federally declared disaster areas.

* Extend eligibility for unemployment insurance benefits for workers who have lost their jobs through no fault of their own.