Washington,DC—Senate Majority Leader Harry Reid made the following statement today on the Making Work Pay tax credit, which goes into effect tomorrow, Wednesday, April 1. The tax credit was part of the American Recovery and Reinvestment Act that the Senate passed President Obama signed into law in February:
“We are already seeing a return on many of the investments in the Economic Recovery Package. Tomorrow, we will add another to that list when the Making Work Pay tax credit goes into effect.
“Working Americans will get a credit of $400, and working families will get $800. To some, that might not seem like a lot of money. But to those in places like Elko, Nev., it could mean being able to afford the medicine they need to stay healthy, buying a few more bags of groceries for their family, or getting new school supplies for their kids.
“Making Work Pay allows Americans to keep more of their paychecks at a time when they need it the most. It’s an important first step in the right direction, but we need to do more. That is why our budget cuts taxes for the middle class and ends the Bush tax giveaways to multimillionaires. It is why we are expanding the child tax credit and the earned income tax credit for larger families. And why, with a tuition tax credit, we are making it easier for families to send their children to college. We are also working to make permanent the sales tax deduction for residents in states like mine.
“For eight years, Bush Republicans put multimillionaires and big business first. We believe it’s time someone stands up and fights for the middle class in this country.”