Obama team: Millions face tax hikes if all Bush rates expire
Some 114 million families would see average tax hikes of $1,600 next
year if all the George W. Bush tax cuts are allowed to expire, says a
new White House report.
"A typical middle-class family of four
would see its taxes rise by $2,200," says the report from President
Obama's National Economic Council, released as Congress prepares a
series of votes on the Bush-era tax cuts.
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