Friday, May 12, 2006

Wynn Votes Against Republican Tax Cut Bill

Congressman Wynn voted against the Republican Tax Reconciliation Bill. The bill was the result of a deal between House and Senate Republicans for a five-year, nearly $70 billion tax package that would extend President Bush's tax cuts on dividends and capital gains.

According to the Tax Policy Center, under the Republican tax cut deal, if you make more than $1 million dollars, your average tax savings will be approximately $42,000 dollars. If you make $50,000 to $75,000 then your average tax savings will only be $110 dollars. Also, if you make $20,000 to $30,000 then your average tax savings will be a whopping $9.

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