WASHINGTON, DC – U.S. Senator Pat Roberts today praised the Senate’s passage of a tax reconciliation bill to provide tax relief to all Americans.

“This bill helps Kansas taxpayers keep more of their hard-earned dollars,” Senator Roberts said. “This long overdue legislation will create jobs, help families at a time when energy costs are high, encourage small businesses to expand, and grow our Kansas economy.”

The Tax Relief Extension Reconciliation Act of 2005, H.R. 4297's conference report passed the Senate today with a 54-44 vote.

The bill provides a one year extension of Alternative Minimum Tax (AMT) relief, which ensures that more than 15 million middle-income taxpayers will not be subject to this complicated and unfair tax in 2006. The bill also extends for two years the reduced rates on capital gains and dividend income, which will benefit more than 200,000 Kansas taxpayers. The bill extends increased expensing for small businesses to help them grow and expand and create jobs.

As a result of these extensions and previously-passed tax relief, Americans can expect to save real dollars:

• 111 million taxpayers will see their taxes decline by an average of $1,877
• A family of four earning $40,000 will receive tax relief of $2,010
• 44 million families with children will receive an average tax cut of $2,493
• 14 million elderly individuals will receive an average of $2,043
• 25 million small business owners will save an average of $3,641

“I have long supported helping Kansans keep more of the dollars they earn,” Senator Roberts said. “Reducing the tax burden will help families save and plan for their future and will encourage businesses to expand their operations and create jobs. I will continue supporting tax policies that encourage economic growth.”

Senator Roberts said, “I will continue to monitor tax legislation in Congress, including pushing for the repeal of the death tax which affects many Kansas farmers and small businesses.”

The bill now goes to the President to be signed into law.