WASHINGTON, DC - House Majority Leader Steny H. Hoyer (MD) released the following statement on tax day. For additional information on how Democrats returned more money to American families this year, click here for a document outlining the tax cuts passed and enacted by Democrats this Congress.
“Thanks to Democratic policies, Americans are receiving significantly higher refunds as they file their taxes this year. In fact, the average refund is up 10%, to about $3,000, and according to the Citizens for Tax Justice, 98% of American families have seen their taxes cut under President Obama. Most of those gains are due to the Recovery Act, a full 40% of which was made up of job-creating tax cuts for businesses and families.
“The Recovery Act's tax cuts included benefits for families raising children, buying new homes and cars, and receiving unemployment insurance. Businesses have also benefitted from the Recovery Act, which helps them invest in new equipment, take bigger write-offs, and attract investment.
“In addition to the Recovery Act, Democrats have passed a number of other tax cuts aimed at creating jobs and boosting businesses. We have provided a tax holiday for businesses that hire and retain unemployed workers, and increased tax incentives to spur investment in small businesses.
“Tax relief for families and businesses is an integral part of our economic recovery, and the reason why former Reagan economic advisor Bruce Bartlett has observed that ‘federal taxes are very considerably lower by every measure since Obama became president.’”