THE AMERICAN JOURNAL

Reuters Erred, But Your Taxes Will Rise

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But that’s not to say that middle-class taxes wouldn’t increase under the White House’s 10-year budget plan. Obama’s $400 per-person Making Work Pay tax credit was passed as a temporary two-year measure in the Recovery Act and is set to expire at the end of the 2010 tax year. The White House budget would extend it for one year at a cost of $61 billion, allowing Obama to continue claiming credit for a broad-based tax cut as he aims to stimulate job creation and a sustainable recovery. But Obama’s budget plan would end the Making Work Pay tax credit at the end of calendar 2011

Read more: IBD

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February 3, 2010 - Posted by | Uncategorized | ,

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