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Tax cuts pass conference with $300 to $400 billion impact
The conference agreement expands the stimulus and taxes, projecting a $300 to $400 billion effect this year and over 10 years. Democrats critique it as deepening debt while supporters say capital gains and stock dividends tax cuts reach 15 percent for most. low income payers get 5 percent through 2008. Workers benefit as tax withholding lowers after July 1, with rates backdated to January 1.
MENTIONED IN THIS ARTICLE
House
Senate
Fleischer
Tom Daschle
D-S.d
Tom Ochsenschlager
Grant ‘Thornton LLP
Internal Revenue Service
Center On