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Congressman for All Alaska Don Young voted today in support of tax relief for the small business community, in the form of H.R. 976, the Small Business Tax Relief bill.  H.R. 976 seeks to amend the Internal Revenue Code of 1986 to provide tax relief for small businesses.  This bill passed by a vote of 360-45.

            “Last month I voted in favor of raising the minimum wage,” said Congressman Young.  “At that time, I stated that we need to offer tax incentives for our Nation’s small business community.  This bill will extend (through 2008) the work opportunity tax credit.  It will also qualify certain individuals living in an empowerment zone, enterprise community, or renewal community, for the work opportunity tax credit and expand the eligibility for, and amount of, such credit for certain disabled veterans.  Alaska is home to Metlakatla Indian Community which is designated an enterprise community. 

“In addition, it will allow employers to claim a business tax credit for social security taxes they have already paid out, with respect to employee cash tips and without regard to any increase in the federal minimum wage rate.  I feel this bill is very beneficial to our country, and beneficial to Alaska and for that reason I voted in favor of H.R. 976.”