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House Prepares to Vote on Health Care Reform
On October 29, the House Democratic Caucus released the text of the Affordable Health Care for America Act [H.R. 3926], legislation to lower health costs, expand access to care, and bring new competition and fairness to the insurance market. The House could begin consideration of the bill on Friday.
Rep. Levin said, “This Act provides a major breakthrough after decades of inaction on comprehensive health care reform. Where our present system works, this reform builds on it, maintaining the commitment we made from the beginning: if you like the coverage you have, you’ll be able to keep it. At the same time, reform makes pioneering improvements where the present system is broken: reining in escalating costs that are making health insurance increasingly unaffordable; providing choices for the 45 million Americans who lack insurance and shift the cost of their care to others; eliminating defects in the quality of care; and ending private insurance abuses, including denial of coverage because of a pre existing condition and discrimination due to age or gender.” For more information, click here.
Rep. Levin Calls for End to Offshore Tax Abuse
On October 27, Rep. Levin and six other House lawmakers introduced legislation [H.R. 3933, the Foreign Account Tax Compliance Act] to clamp down on offshore tax evasion by giving the IRS new tools to detect, deter and discourage offshore tax abuses. The nonpartisan Joint Committee on Taxation has estimated the provisions of the Foreign Account Tax Compliance Act would prevent U.S. individuals from evading $8.5 billion in U.S. tax over the next ten years.
Rep. Levin said, “It is too easy today for someone to avoid paying their taxes by hiding behind foreign bank accounts. These evaders pocket tens of billions of dollars while honest taxpayers are left holding the bill.” For more information, click here.
House Approves $475 Million for Great Lakes Restoration
On October 29, the House of Representatives voted 247 to 178 to adopt the annual funding bill for the Department of the Interior and Environmental Protection Agency. At the urging of Rep. Levin and others in the Michigan Congressional Delegation, the EPA bill includes the full $475 million requested by President Obama for a new Great Lakes Restoration Initiative. This initiative will begin to address longstanding problems in the Great Lakes, including invasive species, non point pollution, habitat and fisheries loss, and contaminated sediment.
“The Michigan Delegation has been fighting for years to win this kind of restoration money,” said Rep. Levin. “The difference this time is that we now have a President who cares about the Great Lakes.” For more information, click here.
New Tax Credit Helps Homeowners Reduce Energy Costs
With winter coming on, consumers are looking at home improvements to keep their energy bills down. If you are thinking about upgrading your furnace or air conditioning system, or if you’ve wanted to replace your home’s old, leaky windows but have been put off by the cost, the new Residential Energy Credit can help. The credit, which was included in the Economic Recovery Act approved by Congress earlier this year, allows many homeowners to claim a tax credit of up to $1500 for certain energy efficient improvements to their homes.
To qualify for the credit, you must place those purchases in service before December. 31, 2010. Improvements made in 2009 can be claimed on your 2009 taxes. For information about which products qualify for the credit, click here.
IRS Offering “Solution Saturday” on November 7th
On Saturday, November 7, from 9 a.m. to 2 p.m., the Internal Revenue Service (IRS) is holding a “Solution’s Saturday” assistance day at their office at the McNamara Federal Building in Detroit. Taxpayers can speaking directly with an IRS representative and receive assistance and advice on a wide range of issues, including: questions about a tax law, available tax credits, resources for filing taxes, and options if you owe taxes or cannot pay. Appointments are necessary and can be obtained by calling 313-628-3120. For more information, click here.
The Week Ahead
The House of Representatives will consider the Expedited CARD Reform for Consumers Act [H.R. 3639] to protect consumers from abusive credit card practices by moving up the effective date of the remaining provisions of the Credit CARD Act. The House is also expected to debate the Chemical Facility Anti-Terrorism Act. The House could also consider the Affordable Health Care for America Act [H.R. 3692].
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