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Wednesday, March 2, 2011

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Rep. Tyler Olson, 515-281-3221

Olson Votes for Job Creation Tax Cut for Middle Class & Small Business

Des Moines, Iowa-State Representative Tyler Olson of Cedar Rapids supported a job creation tax cut in the Iowa House today that will help create new jobs and opportunities for working families.

"My top priority this year is to strengthen Iowa’s middle class and put Iowans back to work. The tax cut encourages Iowa small businesses to invest and expand in their operation," said Olson.

Called 'coupling' with the federal tax code, the bill allows Iowa businesses to deduct the entire cost of autos, machinery, and other big ticket items from their taxes immediately instead of depreciating over time.

"I was also proud to support tax relief for 240,000 families who already have a job, or in many cases hold two or more jobs, but still struggle to make ends meet," added Olson.

Olson supported a plan to put more money in the pockets of families with income less than $45,000 by raising the Earned Income Tax Credit. It will increase economic activity in their community and help buy groceries and pay for child care.

The bill, Senate File 209, now returns to the Senate.

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