Meng Says New Tax Measures Will Help Queens
U.S. Rep. Grace Meng (D-Flushing) praised the passage of tax breaks that she said will benefit individuals and small businesses in Queens, including a commuter tax credit for mass transit commuters and increasing expense limits for businesses for equipment costs. These were part of a $1.1 trillion spending package approved in Washington last week.
The tax measures, passed by the House and Senate and signed into law by President Barack Obama Dec. 18, will make permanent several tax breaks that Congress has traditionally only renewed on a temporary basis.
“This package of tax breaks is a great holiday gift for residents and entrepreneurs in Queens and New York City, and I was proud to vote for it,” Meng said. “It will send critical tax relief to our region, helping not only with our wallets, but with jobs and the economy. Also, by making these tax breaks permanent, residents and small business owners in the borough will be better able to plan for the future. They will have certainty about the tax breaks for which they qualify.”