Congressman Billy Long (MO-07) voted today for the Protecting Americans from Tax Hikes (PATH) Act, which prevents tax increases on Missouri families and small businesses. By stopping tax increases from implementation and extending other tax cuts, the bill allows for more certainty and income to bolster the economy. Overall, the bill provides $629 billion of tax relief.
"This bill prevents a significant immediate tax increase on millions of Americans and makes dozens of temporary tax cuts permanent, including the research and development tax credit to incentivize innovation and provisions to provide small business tax relief," said Rep. Long. "Small businesses will now be able to plan and adjust their budgets and new investments accordingly due to finally having the certainty that these tax extensions will now be in place for several years to come."
The PATH Act also continues to rein in the Internal Revenue Service (IRS) by allowing for the firing of employees that make politically motivated actions similar to ones taken under former IRS Director Lois Lerner.
"It is simply unthinkable that workers in a government agency would use their positions to impact the outcome of elections,"said Rep. Long. "It is crucial that the IRS regain public trust, and this bill includes important measures to hold its employees accountable for wrongdoings."