The Peru Gazette

Plattsburgh, NY –  Today, Congressman Bill Owens announced provisions of the so-called “fiscal cliff” deal that stand to benefit New York soldiers and veterans.  This 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 Representative 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.”

H.R. 8, the "American Taxpayer Relief Act," extends tax credits for businesses with the goal of encouraging them to hire veterans.  In all, the program pays 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 December 31, 2011.

In addition, H.R. 8 retroactively extends a provision of tax law asserting that the basic housing allowance received by members of the military, including those around Fort Drum, shall not be considered income for purposes of calculating income in determining low-income housing eligibility.  This section applies from December 2011 through December 2013, and may help encourage development in military communities where housing shortages have taken a toll on the availability of rental property.

Congressman 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.

“I supported this legislation for its benefit to middle class taxpayers, but there’s critical work ahead to prevent irresponsible defense cuts that would put troops at risk and diminish important training installation like Fort Drum,” Owens said.  “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.”