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![handle is hein.taxfoundation/srbbdxz0001 and id is 1 raw text is: May 2002
No. 113
House of Repi
,2002, to mak(
.manent. The s(
nto law in May
the Economic,
Iiation Act (EG'
er 31, 2010. U
- appears unlike
he April 22, 20
Senate Ma1orit
2esentatives vo
- the tax cut p.
)-called Bush t,;
of 2001, knov
Growth and T,;
FRRA) will exf
timate passage
Ay, however.
02 issue of Ta.
V Leader Tom
ted on
assed 1
ax cut
mn offi-
ax Refc
Dire on
ast
)rm
I II0
2010 2011
has stated, WeN
permanent tax ci
cated. It is bad p
pounds the budg
currently faces.
The major pi
sunset after Dect
+The creat
vidual income ta-1
ing bracket struc
+A phased-
individual incomi
years;
+A phased-
Credit from its pi
child to $r1000 P
+Marriage
marily between
All of these f
American familie
President do not
EGTRRA perman
earning the medi
its federal incomi
$2,681 between
cent increase. Th
of the family's ad
year. Figure I sh(
taxes due in the,
Families with me
experience an ev
taxes between 2
To put this ii
wvill ... never
ut the preside
olicy, it is wr
70et disaster th
rovisions of F
ember 31, 20
Lion of a new
X bracket, ad
:ture;'
-in lncre
reviousI
:er child
penalty
2004 an(
provisioi
-s. In fac
act to n
ient, a ty
ian famil
e tax bi]
2010 an
ais will a
1justed
.ows toto
years 20
:)re than
ven greai
brit
ent
,ong
it COir
RA,
7cent in(
the exit,
remaini
next fiv
mase i
level
I in 2(
relief
d 201
ns aff
Sin ri-
-t, if Congress and the
hake the provisions oi
pical family of four
.y income can expect
11 to increase by
id 2011 , a 48.8 per-
imount to 3.3 percen
3ross income in that
al federal income
)01, 2010, and 2011.
two children will
ter increase in their
S2011.
into context, the
1ends roughly $2,070
U.S.
il M
,r peri
.led if
Ily as
:onci
emb
asure
The
Apr
yeai
sign
ciall
Rec
Dec
meo
rep(
our's Fed(
ut Sunset
$1 0,000
$ 7,500
$ 5,000
$ 2,500
$0
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