Congress also approves Exxon Valdez tax relief and Secure Rural Schools funding The financial rescue bill also included a tax extenders package that will continue several expiring tax benefits to small businesses and others, provide energy conservation and renewable energy incentives and provide another one-year fix to keep the alternative minimum tax from raising taxes on millions more Americans. Importantly, it also contains a proposal I and Senator Stevens authored that will give the plaintiffs in the Exxon Valdez oil spill case the ability to increase retirement contributions and provide tax relief through income averaging. While I was extremely disappointed in the Supreme Court’s decision to reduce the punitive damage award to the victims of the Exxon Valdez oil spill, our provision will help lessen the tax burden and allow the 30,000 plaintiffs to keep more of the compensation they receive. Plaintiffs will be able to income average settlement payouts over a three-year period, contribute up to $100,000 of their settlement to a qualifying retirement account or pension plan and avoid having to pay self-employment taxes or payroll taxes on any payouts from this case. October 3, 2008