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Studies Shed New Light on Effects of Administration's Tax Cuts

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A wide variety of informative new data and analyses has been released recently that provide a more complete picture of how the 2001-2003 tax cuts are affecting the economy, the budget, and different income groups. This information comes from two new studies of the tax cuts — one by the Congressional Budget Office and the other by the chief economist of, an independent economics research firm. In addition, new data from the Economic Policy Institute and new budget estimates from the Administration shed more light on the tax cuts’ effects.