The Tax Extenders of 2009 (H.R. 4213), introduced by Representative Charles Rangel, would provide critical tax relief for hardworking families and businesses to help spur economic growth and create jobs.
The bill would provide individuals and businesses with approximately $31 billion in tax relief in 2009 by extending for one year (through 2010) more than 40 provisions that are scheduled to expire at the end of 2009. This $31 billion in tax relief includes more than $5 billion in individual tax relief and more than $17 billion in business tax relief. The bill would also extend more than $7 billion of tax provisions that encourage charitable contributions, provide community development incentives, provide tax relief in the event of a Presidentially-declared disaster, and support the deployment of alternative vehicles and alternative fuels. The bill would provide this relief without adding to the deficit.