9 billion tax cut
proposal, which would cut the state sales tax rate and the franchise tax.
With the threshold set at $250,000, 98 percent of Americans would receive their full tax cuts
next year, and all Americans would receive a tax cut
on their first $250,000 in income.
Specifically, the poorest 20 percent (those with an average income of $13,850) would keep their average tax cut
of $270 with the extension.
The one idea that is almost certain not to jump-start this economy is a tax cut
Now that the president has struck a deal to extend all of the tax cuts
, in addition to an extension of unemployment benefits and an expanded payroll tax cut
for the middle class, Mr.
Contrast this with McCain 2001, who said, quite correctly, ''I cannot in good conscience support a tax cut
in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans who most need tax relief.
Without pay-as-you-go, Republicans would be free to propose tax cut
after tax cut
, starting with permanent repeal of the estate tax and extension of all the Bush tax cuts
, and some Democrats would balk at voting against them.
One modest proposal for immediate reform is to make permanent a Bush tax cut
that has been allowed to expire.
SALEM - Republican lawmakers on Tuesday came up with an inventive way to pay for a $220 million tax cut
for investors and corporations: Pass it now, but let a future Legislature figure out how to pay for it.
The dividend tax cut
makes carrying forward an NOL even less appealing.
And at the hearing in February, Sarbanes ridiculed Greenspan's endorsement of Bush's 2001 tax cut
on the grounds that a huge budget surplus was forcing the government to pay down all of its debt.
Households in the bottom 20 percent will get an average tax cut
of $1, the group estimates.