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October 05, 2004
Debt Ceiling Approaches; Tax Cuts Still Coming Read page A4 of the Washington Post: And compare with page A8: The $146 billion law will keep the $1,000-per-child tax credit intact for five more years and will protect many married couples from paying higher taxes than if they filed as singles. It will extend for six years the 10 percent tax bracket on the first $14,000 in income, which amounts to a $200 break for most taxpayers. While Bush talked mostly about benefits for individual taxpayers, the biggest chunk of the package, about $13 billion, will go to businesses to help fund research and development.
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