State Fact Sheets and Analyses from Citizens for Tax Justice
With both the Bush tax cuts and President Obama’s expansions of certain parts of those cuts set to expire at the end of 2010, the decisions Congress makes in the coming months will have very different effects on taxpayers at different income levels, according to a new report from Citizens for Tax Justice.
The report shows that low- and middle-income taxpayers will pay higher taxes under the Republican approach than under President Obama’s approach. It also shows that the richest taxpayers will pay far less under the Republican approach than under President Obama’s approach.
Limiting Tax Expenditures Must Be a Part of Congress’s Efforts to Balance the Budget