Pappas Fights to Deliver Tax Relief for Granite Staters

Today, Congressman Chris Pappas (NH-01) helped to pass H.R. 7024, the Tax Relief for American Families and Workers Act in the House, legislation that would deliver immediate tax relief to Granite Staters by restoring the expansion of the Child Tax Credit, promote innovation by ensuring small businesses can fully deduct research and development (R&D) expenses, and improve New Hampshire’s ability to build new affordable housing by improving the Low-Income Housing Tax Credit program. 

“This tax cut bill will put more money back in the pockets of hard-working families, increase the availability of affordable housing, and help our businesses innovate,” said Congressman Chris Pappas. “At a time of high costs and a housing crunch, this legislation will provide real relief to Granite Staters. I’m proud to join a large bipartisan majority in the House to support these tax cuts, and I hope the Senate will soon join us in passing this legislation.” 

Background:

Pappas fought for the original expansion of the Child Tax Credit in the American Rescue Plan, and to extend the expanded Child Tax Credit to help lower costs for Granite State families. It’s estimated that 17,000 children in New Hampshire’s First District will benefit from the expanded Child Tax Credit in the first year.

Pappas has repeatedly called on House leadership to restore common sense tax policy that incentivizes investments in research and innovation. He is also a cosponsor of the American Innovation and R&D Competitiveness Act which would ensure companies can fully deduct R&D expenses each year and lower taxes for small businesses.

Pappas has advocated for the Low Income Housing Tax Credit which improves New Hampshire’s ability to build new affordable housing for low- and moderate- income families. He supports the Affordable Housing Credit Improvement Act which would strengthen the program.