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Thomas backs new Tax Relief Plan praised by congressman
United States Representative Bill Thomas of California champions a tax relief package agreed by the House and Senate. The plan lowers rates to 10 15 25 28 and 35 percent with a $300 to $600 lump sum refund and tax changes including a new 10 percent rate on higher thresholds. It repeals personal exemptions and the death tax, raises IRA and 401k limits, expands education incentives and boosts the child tax credit to 1000. The proposal, tied to California's 21st District including Shafter, targets broad tax relief and simplified structures effective 2001 onward.
MENTIONED IN THIS ARTICLE
United States
Bill Thomas
R-Ca
Ways and Means Committee
House
Senate
Congress
Thomas
California
Shafter