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Providing Tax Relief for Middle-Income Americans
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05/12/06 11:35 AM ET
The tax bill is about strengthening the economy and protecting millions of families from higher tax bills because of the Alternative Minimum Tax. It will help small businesses, encourage the kind of investment that creates jobs and makes our economy grow, and ensure more fair tax treatment for middle-income families who would otherwise have to pay a tax intended for wealthy individuals.
Some Democrats have accused Republicans of abandoning popular tax breaks like the college tuition deduction, which will expire if we don’t extend it. That’s not the case. A second tax bill is in the works that will include relief for college students paying tuition, teachers buying supplies for their classrooms, and the research and development of innovative ideas that benefit our society. These items are popular with both Republicans and Democrats in Congress. Look for the second bill in the coming weeks.
Some Democrats have accused Republicans of abandoning popular tax breaks like the college tuition deduction, which will expire if we don’t extend it. That’s not the case. A second tax bill is in the works that will include relief for college students paying tuition, teachers buying supplies for their classrooms, and the research and development of innovative ideas that benefit our society. These items are popular with both Republicans and Democrats in Congress. Look for the second bill in the coming weeks.
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