WASHINGTON, DC – U.S. Senator Pat Roberts today voted to extend critical tax relief to allow Kansans to keep more of their hard earned dollars, and to help businesses make continued investments to the economy. The Senate approved the legislation with a vote of 93-2.

"As a member of the Senate Finance Committee," Senator Roberts said. "I have worked hard to ensure that further tax relief is available for individuals, families and businesses in this struggling economy. With family budgets strained, this extended relief has come just in time."

The bill extends the tax deduction for higher education expenses and extends the deduction for teachers who pay for classroom supplies out of their own pockets. The bill also expands tax relief to more low income Kansas families by lowering the refundable threshold for the $1,000 child tax credit from $12,050 to $8,500 for 2008. An additional 27, 000 Kansas children will be eligible for the credit.

The package also provides one year of AMT relief to protect approximately 20 million middle-income taxpayers from being hit by this burdensome and unfair tax.

It also continues a number of business and individual tax relief for two years through 2009 including the following:

• Research and Development tax credit that encourages U.S. companies to make investment in R & D activities.
• Deduction of up to $4,000 for higher education expenses
• Railroad maintenance tax credit
• Allows taxpayers to continue making tax-free contributions from their IRA plans to charitable organizations.
• Extending the standard deduction for property taxes for non-itemizers of $500 per individual and $1000 per couple that was established by the Housing bill earlier this year.

In addition, the bill includes new tax incentives to benefit Kansas, including:

• Shortening the depreciation schedule for farm equipment and machinery from seven years to five years.
• Providing tax relief for Midwest storms and floods earlier this year, including tax relief for those impacted by the Chapman tornado

The bill now goes to the House for a debate and vote.

-30-