The American Jobs and Closing Tax Loopholes Act

This bill puts middle class families and small businesses first, and helps ensure that Wall Street billionaires pay the same tax rate on their income that you pay on yours.

The American Jobs and Closing Tax Loopholes Act extends unemployment benefits and supports more than a million American jobs by helping restore credit to small businesses, extending the R&D tax credit, rebuilding American roads and bridges, and providing tax relief for millions of middle class American families.

The tax benefits to middle class Americans are paid for by closing the tax loopholes that big businesses have exploited to ship jobs overseas and allowed Wall Street billionaires avoid their fair share of taxes - paying a lower rate than most working Americans. The bill also holds the oil industry accountable by increasing the amount oil companies have to pay into the Oil Spill Liability Trust Fund - so taxpayers are never stuck with the bill for the industry's risky practices.