Norton's D.C. Tax Incentives Pass House Today

Press Release

Today, the House passed Congresswoman Eleanor Holmes Norton's (D-DC) unique $5,000 D.C. homebuyer tax credit, which has sharply increased home ownership in the District and has been a major factor in stabilizing the city's population, as well as her D.C. business tax incentives, including a significant wage credit for employing D.C. residents, both retroactive for 2010. Norton's tax breaks passed as part of H.R. 4213, the American Jobs, Closing Tax Loopholes and Preventing Outsourcing Act, which also includes an extension of the Emergency Unemployment Compensation (EUC) program through November 2010, a continuation of the federal additional compensation of $25 a week in unemployment benefits, and an extension of the availability of EUC benefits for up to fifty-three weeks. H.R. 4213 also prevents cuts to the Medicare physician payment rates, ensuring doctors will be available for D.C. seniors.

"Today's bill brings urgent relief to unemployed residents, workers, businesses owners, and residents seeking home-ownership," Norton said. "The Act will be especially welcomed by the 11 percent of D.C. residents who are unemployed, as they seek jobs in D.C.'s economy, which has begun to stabilize. The D.C. business tax credits offer many incentives to maintain and grow businesses here, particularly the special break D.C. businesses get if they hire or have already hired D.C. residents. The D.C. homebuyer tax credit will keep residents buying homes here, which is especially vital since the federal homebuyer tax credit has expired."

H.R. 4213 is scheduled to be considered in the Senate following the Memorial Day recess.

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