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Congressman Tom Reed supported a proposal to make temporary tax breaks permanent and also extend others through 2016.

"I care about helping our small businesses and manufacturers create the quality, family sustaining jobs of today and tomorrow right here at home," said Reed. "We are creating certainty in the tax code for them which will lead to jobs and in the meantime, we are helping people across our region make ends meet by ensuring everyone can keep more of their hard earned money."

The proposal included a number of provisions designed to help small businesses and farmers grow by making it easier for them to buy new equipment and invest in their businesses. The provision, known as Section 179, would allow them to deduct the cost of equipment purchases off their taxes over a shorter period of time, making larger purchases more cost effective and encouraging upgrades.

The bill also encourages innovation among by giving them a tax deduction for investing into research and development.  "We care about making sure our manufacturers can compete on an international level. To do that, they must develop the technology they need to make products here at home. It's that kind of investment that will create the good jobs of tomorrow that our region needs," said Reed.

Finally, the bill includes one of Reed's standalone proposals which helps middle class families with additional tax relief following debt forgiveness on their mortgages. The Mortgage Relief Assistance Act will stop the federal government from taxing the amount of money that was forgiven on the mortgage as income. "We want to make sure that families who are trying to stay on their feet aren't kicked while they down. Many times they have tried to do everything right, but still run up against tough financial times and the Federal government shouldn't add insult to injury by levying a tax bill that could cost their homes," said Reed.

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