WASHINGTON – Today, U.S. Senator Chris Murphy (D-Conn.) released the following statement after the Senate voted to pass the Tax Increase Prevention Act of 2014:
The tax extenders package that my colleagues and I passed today falls far short of ideal, but it provides certainty for the thousands of families and businesses in Connecticut and across the country that are counting on these provisions. I’m disappointed that Congress failed to make progress toward comprehensive tax reform, but many of these provisions were too important to allow to lapse: from tax incentives for property owners who choose to conserve their land, to the critical deduction for charitable giving, to the research and development tax credit that helps businesses invest in new ideas.
However, I am glad that the Achieving a Better Life Experience (ABLE) Act, which I cosponsored, will also be signed into law as part of the package, and that families will now be able to create tax-free accounts to save for the long-term care of their disabled family members. I’m hopeful that this victory will drive significant progress in the fight to pass the Keeping All Students Safe Act – a bill that I introduced to ensure the effective implementation of positive behavioral interventions in our nations’ schools.