Rep. Bill Owens (D-Plattsburgh) says that provisions of the so-called “fiscal cliff” deal that he voted for last week stand to benefit soldiers and veterans in his North Country district.
The legislation, the “American Taxpayer Relief Act,” extends various tax policies supporting job creation and middle class families, and was signed into law last week after receiving bi-partisan support from Owens and others in Congress.
“As Congress looks for ways to reduce the deficit and cut federal spending, it is imperative that we remain mindful of our duty both to veterans and to military communities supporting men and women on active duty,” said Owens.
“The deal passed last week, while not perfect, extends some real help in these areas and represents a clear example of the good work we can accomplish through bipartisanship and cooperation.”
The bill extends tax credits for businesses with the goal of encouraging them to hire veterans with payments between $2,400 and $9,600 to businesses who hire qualified veterans. Tax credits are retroactive for those veterans who begin work for the employer after Dec. 31, 2011.
Owens noted that although the bill extends tax provisions benefiting veterans and members of the military, the need to protect the Department of Defense from the affects of sequestration was not addressed in this legislation.
“I am committed to finding common ground on these issues so we can responsibly cut federal spending while protecting America’s status as the greatest fighting force around the world,” Owens said.