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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (20031)	1/7/2003 2:36:10 PM
From: Rainy_Day_Woman	Respond to of 57110

The Bush stimulus plan Following are proposals from the president’s $674 billion, 10-year economic stimulus package unveiled Jan. 7. • Dividends - The plan calls for the elimination of double taxation on corporate dividends. This is likely to cost as much as $300 billion over 10 years, according to administration sources. Some economists say it could boost stock prices by 10 percent. • Corporate taxes - Companies would receive tax breaks and would be eligible for write-offs of up to $75,000 on capital investment, a limit that would be adjusted to inflation. • Tax rates - The plan would speed up cuts of income tax rates that are currently scheduled to be phased in during 2004 and 2006. Tax credits for families with children would increase from $600 to $1,000 this year instead of in 2010. The marriage penalty tax would be decreased this year instead of in 2009. According to the administration: - 92 million taxpayers would receive an average tax cut of $1,083 in 2003 - 46 million married couples would receive average tax cuts of $1,716 - 34 million families with children will receive average tax cuts of $1,473 - 13 million elderly taxpayers would receive a $1,384 tax cut. • Tax brackets - The current 27 percent bracket would be lowered to 25 percent; the 30 percent bracket to 28 percent; the 35 percent bracket to 33 percent; and the top 38.6 bracket to 35 percent. In addition, millions of American workers would be moved to the lowest tax bracket of 10 percent this year instead of in 2008. The administration will give states a total of $3.6 billion for job retraining and support for at least 1.2 million unemployed workers. Under this program, jobless workers will have up to $3,000 in Personal Re-employment Accounts to spend on job training, child care, transportation, moving costs and other expenses incurred in looking for a job. • States - The current 27 percent bracket would be lowered to 25 percent; the 30 percent bracket to 28 percent; the 35 percent bracket to 33 percent; and the top 38.6 bracket to 35 percent. In addition, millions of American workers would be moved to the lowest tax bracket of 10 percent this year instead of in 2008. The administration will give states a total of $3.6 billion for job retraining and support for at least 1.2 million unemployed workers. Under this program, jobless workers will have up to $3,000 in Personal Re-employment Accounts to spend on job training, child care, transportation, moving costs and other expenses incurred in looking for a job. • Other - The administration will also urge Congress to extend emergency jobless benefits, which expired last month.