Newspaper Archive of
Beverly Hills Weekly
Beverly Hills, California
June 6, 2001     Beverly Hills Weekly
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June 6, 2001

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: oplnlO i ; The public opinion forum where Beverly Hills dukes out the issues IS THE TAX CUT PLAN A GOOD IDEA? i PRO Sen. Chuck Grassley C~'~Ox,d I~ Ihr. Ic~sr-I;~ill,~l trL,m 2~)OI ~c, ]~bl I Ih,' i;~l,, ~,1 ~,~rl,hl~ ~L, IL,, i ~1~, ~, t,~U~]~I I.~,~rd Ih Tlcl \'~: ~r~ ;lll~,~c~ Ic, ~U~ Icr~~, '~,~uEc lu~ldm., ic,r i~,lll,,l~c~L i,lU,~it~'~, III, I~L~,tuLI r~'*>lL~tJ''1~ I~''~1'1~~' rc~,~1.~ ~,t \~Jmc thal i~ ct~rrcnll~ taxed al a ]5 i~c~'c~]l r~*lC Ihal mc~m'~ I~C.,l~le ~h,, :kJ,. hi[ libel ~ Ih~ I ~ I,c~cnl latc ~ill km,w Ihal ~,,in~ b:l~k I,, lam~arv 1 Ihi'~ ',car, Ihc~ LI I';L~ i(I T,cl ~cl~l ii,,I I ~ I~crc0r~t, ~n (}~clr Ih'~i l:~xabtc d*.llar~, allcl dcc]uctu,~r~ For m~lTricd i~cr,~,n~, IIic LJl~l~cr ~11 ~,1 d~c I~ pcrc~i talc br;.:Lc~ wUl bc CXl,;~ndcd i~, i~1 ~ pcrccn~ ~l~cv>ll '~cc m,,r~ ~.1 ihc~r mc,,mc laxcd al Ihc 15 l~C~ccnt ~;J~c TUc ~zEcnl 2~ percent ralc will drop I~> 25 pcrccnl. Ihc currcm 31 T,crccnl r:LIc ~ Ul la]l Io 2~ I~Cl ccrzl I't1,: cxi'~llng 3O I~crucl~l and 39(> t~crccr~l rate', will bc I~'clc~l I~, 3 ~ ~n~l 5(~. rc,~pcc livcly. lr~lll~cdi~lc dcalh I~lx rcli~'l :rod cvcnlual clc~lh i~lx rcl~cal I~xp~tndcd child credit: l'hc bill cinbraccs Prcsk]cm BLl~h'~ olcxpa~dii~ Illc child crcdil Io $1,0(XI II ~lso mcluflcs a new proposal Ihal will ;fllo~ ~l~c child crcdii I~, bcncl]l w~kln~ Ihmilic~ thai would nol ~,lhcrwr, c receive Ihc child clcdi~ undcr currcr~l law hccau,,c Ibcy h~vc Io~ lililc ~,r m~ tacomc lax liabilily M~lrri:l~c pcnalIy rclicf: Thc package glvc~ inconlc I~i rclicl t*~ nlciilicdc*~upIc~, willl h~,~h ~,[,~',c', working and only one '.pousc working RclirClnCnl ,~avings: The Icgr~lalion [lll~w~ Amcrican'. Io ~.avc m~,rc II~c.~lcv in Ihcir rel~rcmcm plan's. B provides a spccial inccnlivc I~>r h~w and mlddlc inc~,mc ",aver. Iklucad~,n ~,avin'~: Thc',c slcp'~ imAudc ic~mwin~ Ihc lirmt~li,,n on lilt dcducllbi[ilv *>1 ~ludcnl I~n in~crc~.l ~lnd rai~in~ lhc amounl il~l ca./ bc c~,~lril~L~lcd ic> ~l~ cluc;~li~n ~,av l~g.~ ;lccounl from $50() 1o $2,lX)0 PIc~,i~lcl~l Bu'~h planlcd Ihe ~cc,.I ol lax cur, ~1., candid~lc Bu%. n~,~lh', a~, Wilh cuhi. ,~alic,r~ in C~,n~rc~, hi'. '~ccdlin~ h~', Thi,, wcck, ihc t~cn~lc w~ll help ~, dcchlc ~ hcl]lci Americans will rc~lp .~ har.c~,l ~>1 la rclicl" I h~pc I\~r :l ~c~lclc~tl.~ yield S~,F~ ('h~w~ (;nl~/~: /R-I~,~,~J is ~h,unmln r~f thc (~,~z~it1,~' ,,t~ ~7~c, CON Gene Sperling May 31 June 6, 2001 5