Robert L. Ehrlich, Jr. press release, March 10, 2000

MEWS FROM Robert L. Ehrlich, Jr. Second Congressional District of Maryland 1 407 York Road, Suite 304 Lutherville, Maryland 21093 315 Cannon House Office Building Washington, D.C. 20515 FOR IMMEDIATE RELEASE: CONTACT: Jill Homan March 10, 2000 202/225-3061 Congressman Ehrlich Applauds Passage of Tax Relief for Small Businesses WASHINGTON, D.C. - Congressman Robert L. Ehrlich, Jr. voted to provide Maryland small businesses with new tax relief provisions designed to create new jobs and promote continued economic growth into the 21st century. Last night, the House of Representatives passed H.R. 3081, The Wage and Employment Growth Act, by a vote of 257 to 169. This legislation includes measures to increase health care coverage, ease the estate or "death" tax, and move more people from welfare to work. "America’s small businesses have been a driving force behind our unprecedented economic prosperity," stated Congressman Ehrlich. "The Republican-led Congress took a great step forward to provide these hard-working men and women with tax relief and tax fairness." Among other provisions, H.R. 3081 : • Accelerates the increase in the self-employed health insurance deduction to 100 percent, so small businesses can fully deduct premiums as larger companies have done for years; • Increases contribution and benefit limits in tax-favored retirement plans; • Simplifies the pension system to encourage small businesses to offer pension plans; • Takes another step toward repeal of the death tax by reducing the top estate or “death tax” rate over 5 years from 55% to 50%; and • Increases the minimum wage by $ 1 per hour - to $6. 1 5 - over the next two years. ###