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As state government’s approach to the current economic downturn focuses on taxes and spending, it is refreshing to see President Bush’s bold leadership on a national level proposing tax cuts and job creation.
The president’s economic plans build on the success of the tax cuts enacted by Congress in 2001 by moving the effective date into this current tax year, so American families can benefit from the approved tax cuts now.
A key provision in the president’s plans is raising the child tax credit from $600 to $1,000 per child this year, instead of waiting until 2010. That would put $400 per child back in the pockets of 26 million American families.
The president’s child tax credit provision would deliver $16 billion in total tax relief to American families this tax year alone.
In addition to the child tax credit change, President Bush’s plans include the elimination of the marriage penalty and immediate implementation of a wider, 10 percent tax bracket.
These measures offer real relief to help American families, speed up economic growth and generate jobs for American workers. Congress should enact them quickly.
Betty Lou Mitchell
State senator
District 10
Etna
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