Tax Increases Ahead: The Impact of the House Budget Resolution, By Congressional District
Publication Date: May 2007
Publisher(s): Heritage Foundation (Washington, D.C.)
Author(s): Shanea Watkins
Keywords: Taxes; income; Bush tax cuts; economy
Coverage: United States
As it currently stands, the House budget resolution proposes to allow the Bush tax cuts to expire, which could cause the average taxpayer to face an additional $3,029 in taxes; could damage employment growth, causing about one million fewer jobs to be created; and has the potential to damage economic output by over $100 billion.