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Publication Date: May 2007
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Shanea Watkins
Research Area: Banking and finance
Keywords: Taxes; income; Bush tax cuts; economy
Type: Report
Coverage: United States
Abstract:
As it currently stands, the House budget resolution proposes to allow the Bush tax cuts to expire, which could cause the average taxpayer to face an additional $3,029 in taxes; could damage employment growth, causing about one million fewer jobs to be created; and has the potential to damage economic output by over $100 billion.