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Essay / Research Paper Abstract
This 6 page paper examines the WFTRA and outlines its provisions. Various issues are discussed inclusive of new definitions for dependents. Bibliography lists 3 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA509WFT.rtf
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Unformatted sample text from the term paper:
economy boomed under Clintons watch--Bush did support legislation that would go toward helping working families. One such tax act was in fact aimed at middle class families that are struggling
to make ends meet. It is because of this 2004 act that many families find cash flow has once returned to a budget that was busting at the seams. In
part, personal financial problems are attributable to 9/11 and even the global economy that was shaky even before the new millennium. But Bush did come through with tax relief. It
is something that most taxpayers applaud, regardless of party affiliation. It has provided tax relief to small businesses and families and it continues to do so under a number of
long term provisions. The tax relief act had been signed by President Bush on October 4, 2004 (Levin, 2005). The "Working Families Tax Relief Act of 2004" provides relief
for working families and allows for things such as a reduction on income taxation for the middle class (2005). In the new tax law, Cook & Oestreich (2005) explain that
" the President has included tax simplification, the preservation of current tax cuts/incentives and small business tax relief as major components of his second-term agenda..." (98). Within
the new law are a variety of provisions that allow for this type of relief. One popular part of the plan is the child tax credit. This credit is something
that is related to a 2001 provision and is equivalent to one thousand dollars for 2004; it was supposed to go down to $700 for 2005 through 2008 but then
go up again by 2010 (Levin, 2005). However, the new law allows for the retention of the $1,000 level through 2010 (2005). The act further increases in respect
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