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Choof.org "News"

October 05, 2004

Debt Ceiling Approaches; Tax Cuts Still Coming

Read page A4 of the Washington Post:

The government should hit the national debt's $7.4 trillion ceiling this month, and the Bush administration told Congress again yesterday that it should raise the limit.

And compare with page A8:

President Bush signed into law a fourth tax cut in less than four years, extending relief for married couples, parents and businesses during a well-timed ceremony in this battleground state...

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.

Posted by chris at October 5, 2004 12:08 PM

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