In profile – Rep. Steven Palazzo (R – Mississippi)

Representative Steven Palazzo currently serves Mississippi’s 4^th Congressional District and has been serving Congress since January 5, 2011. He currently serves on the House Appropriations Committee and sits on three subcommittees: the Commerce, Justice, Science Subcommittee, the Subcommittee on Agriculture, and the Homeland Security Subcommittee, where he serves as the Vice-Chair. The House Appropriations Committee is responsible for allocating federal discretionary spending.  Furthermore, since Rep. Palazzo’s first term, he has served on the Majority Whip team and was Chairman of the Space Subcommittee for five years.

As a CPA, Rep. Palazzo has been very active in supporting legislation and promoting the profession. He has provided efforts to relieve individuals and business through the Tax Extension Assurance Bill, which allows an automatic 90-day extension of certain federal tax deadlines. Furthermore, Congressman Palazzo was a strong supporter of the profession’s position to oppose limiting the cash accounting method during tax reform.  He also has consistently supported the Mobile Workforce State Income Tax Simplification Act in the House.

Additionally, Congressman Palazzo is the Chairman of the U.S. Expat Caucus, an informal group of members dedicated to addressing and discussing issues affecting American citizens living overseas.  The Expat Caucus was formed to protect the Foreign Earned Income Exclusion during the tax debate and raise awareness of the unique issues facing American Expats. In the recently passed budget agreement, Congressman Palazzo was able to secure the inclusion of these important clarifying changes to Section 911 qualifications. With this inclusion, contractors working in support of our nation’s military in combat zones will be more clearly eligible for the Foreign Earned Income Exclusion.

Prior to Rep. Palazzo’s federal political career, he served in the United States Marine Corps Reserve, worked on oil rigs, and served in the Mississippi House of Representatives from 2006 to 2010. Prior to coming to Congress, he owned and operated Palazzo and Company CPAs, a CPA firm located in south Mississippi. Rep. Palazzo attended the University of Southern Mississippi where he received his bachelor’s degree as well as a Masters of Professional Accountancy.