Data Improvements Can Lead to Better Customer Service, Program Integrity and Taxpayer Savings Today, Congressman Dave Reichert (R-WA), Chairman of the Subcommittee on Human Resources of the Committee on Ways and Means, and Senator Tom Carper (D-DE), Chairman of the Senate Homeland Security and Governmental Affairs Committee, along with Congressmen Erik Paulsen (R-MN) and Tom Reed (R-NY), released a Government Accountability Office (GAO) report underscoring the opportunity for States to further ... Read more

Reed to participate on Energy, Manufacturing, Education and Family Benefits, and Real Estate working groups Rep. Tom Reed will take part in a number of tax reform working groups announced by Committee on Ways and Means Chairman Dave Camp and Ranking Member Sandy Levin. Reed will participate on four of the eleven working groups: Energy, Manufacturing, Education and Family Benefits, and Real Estate “Taxpayers are spending a collective 6.1 billion hours each year trying to comply with the 70,000-p... Read more

Taxpayers spend an average of 6.1 billion hours each year tackling a 70,000-page, 4 million-word tax code Citing the National Taxpayer Advocate’s 2012 Annual Report, Rep. Tom Reed today emphasized the need to simplify the tax code so that taxpayers have a better understanding of the code and how to file properly. “What really stood out in the report is the overall complexity of the code,” said Reed. “Hardworking taxpayers are spending a collective 6.1 billion hours and roughly 90 percent use ei... Read more

The Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012, which requires Congress to begin the process of reforming and streamlining the tax code, passed the House late this afternoon. “The 70,000 burdensome pages of the code hurt American businesses and families,” declared Congressman Tom Reed. “It has been more than 25 years since the last major rewrite and it is beyond time for us to begin a comprehensive reform.” Reed, a co-sponsor of the Act, has called for streamlining a... Read more

Citing the savings for local municipal tax payers paying for capital improvements with bank qualified bonds, Congressmen Tom Reed (R-NY) and Richard E. Neal (D-MA) have formally introduced the Municipal Bond Market Support Act of 2012. The act will amend the Internal Revenue Code and save taxpayer dollars by expanding the use of local bank qualified bonds for capital projects. Under the bill, local municipal governments and school districts will see their annual ability to utilize bank qualified... Read more

Congressman Tom Reed announced today that he has introduced HR 4336,the Mortgage Cancellation Tax Relief Act of 2012, in the House of Representatives. The bill, which has 10 co-sponsors, will extend expiring tax relief for forgiven mortgage debt. “Nearly a quarter of all homeowners owe more on their mortgages than their home’s current fair market value,” Reed observed. “Loan modifications, short sales and foreclosures are frequently the result of job loss. Relieving this large unanticipated tax ... Read more

Statement from Congressman Tom Reed regarding the deal to extend payroll tax rates: “The deal finalized this morning is not perfect, but I support it. This compromise extends the payroll tax holiday for the rest of the year, protects seniors' access to Medicare services by extending and paying for the SGR "doc fix," and reduces the threat to the fiscal health of Social Security by replacing the decrease in funding with offsets from the general fund. Most importantly, it is a win for hardworking ... Read more

Congressman Tom Reed is urging support for House leadership’s proposal to extend the payroll tax holiday as a stand-alone measure. “Last week I called for the House to consider extending the payroll tax holidayas a stand-alone measure,” Reed said. “Washington already takes too much from taxpayers, and time is running short to extend the tax holiday before it expires on February 29. I am committed to forging an agreement in the House Senate conference committee, but as the deadline approaches it ... Read more

Says the last thing hardworking taxpayers need is for Washington to take more of their money beginning March 1 Noting that time is running out on the payroll tax holiday, Congressman Tom Reed today called for a change in the focus of the House Senate Conference Committee dealing with the issue. “We in the House have been here ready to work since before Christmas,” Reed said. “The Senate has only been engaged for the last three weeks and we have been talking mostly about unemployment since then. ... Read more

During an appearance at Upstate Roofing and Painting in Brighton, Congressman Tom Reed announcedthat he will introduce the Roofing Efficiency Jobs Act of 2011 when Congress reconvenes in Washington after Labor Day. Reed’s bill, which will create a 20-year depreciation period for commercial roofs (instead of the current 39-year period) will create nearly 40,000 roofing manufacturing and construction jobs nationwide. “The average lifespan of a typical commercial roof is only 17 years,” Reed explai... Read more