Tax Cuts in Florida

Paper Summary:

Tax policies recently introduced into the United States House of Representatives will effectively reduce the tax burden for the average citizen in Florida. This paper discusses how, despite Democratic concerns over the expanding federal deficit, it is clear that the effect of bills like H.R. 4275, which made permanent the 10-percent tax bracket for the first $7,000 of income, will result in more money in the pockets of American citizens, including citizens of Florida.

From the Paper:

"On May 13, 2004, the United States House of Representatives put forward bill H.R.4275, also known as the 10 Percent Tax Bracket Extension and Permanency Act. Sponsored by Republican Pete Sessions, this bill was designed to "amend the Internal Revenue Code of 1986 to permanently extend the 10-percent individual income tax rate bracket". The bill was successfully passed, by a vote of 344 pro to 76 against (Library of Congress)."

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