Kim Reynolds: “Sometimes we get lost here a little bit about the result of the 2003 tax cuts. In 2003, 91 million taxpayers will…”

“Sometimes we get lost here a little bit about the result of the 2003 tax cuts. In 2003, 91 million taxpayers will receive on average a tax cut of $1,126 under the Jobs and Growth Act of 2003. Sixty-eight million women will see their taxes decline on average by $1,338. Forty-five million married couples will receive an average tax cut of $1,786. Thirty-four million families with children will benefit from an average tax cut of $1,549, and 6 million single women with children will receive an average tax cut of $558. Twelve million elderly taxpayers will receive an average tax cut of $1,401. Twenty-three million small business owners will receive tax cuts averaging $2,209, and 3 million individuals and families will have their income tax liability completely eliminated by this act. This bill today, when we vote it up or down, it is going to go to 2010. A $1,000 child tax credit is scheduled to sunset in 2005. It will gradually increase back to $1,000 in 2010. In this bill, it puts it up right up front, now to 2010, a $1,000 tax credit.”