Chuck Grassley: “Look at the levels of reduction in tax burden shown on this chart. You can see that the lowest income brackets receive…”

“Look at the levels of reduction in tax burden shown on this chart. You can see that the lowest income brackets receive the highest reduction. Now, for the year 2006--and I say for the year 2006 because that is when the individual tax provisions or rates are implemented--taxpayers with over $100,000 of income receive a tax cut of between 5 and 6 percent. Taxpayers earning between $10,000 and $50,000 get a tax cut of between 6.5 percent and 13.6 percent, with those at the lower income levels getting the biggest percentage of reduction. Even those with incomes below $10,000, who, by and large, don't pay income and payroll taxes, receive a tax cut under the bipartisan tax relief package. Under the tax relief, 6 million Americans will be taken off the income tax rolls. A four-person family earning $35,000 a year will no longer have any income tax burden. These taxpayers will enjoy significant effective tax relief.”