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Wednesday, June 11, 1997
Deloitte & Touche OnLine
Most of the tax relief in the tax-cut package goes to individuals who make between $20,000 and $75,000 per year, House Ways and Means Committee Chairman Bill Archer, R-Texas, said in a June 10 statement.
"This package is aimed directly at America’s middle-income wage earners," said Archer, rebutting comments made by President Clinton and other Democrats.
Archer’s claim about the effect his tax-cut proposal would have is based on a Joint Committee on Taxation distributional analysis of the entire package.
FUTA Changes: The Joint Committee on Taxation issued a description and revenue estimate of proposed Federal Unemployment Tax Act changes that affect employed prisoners, religious school workers, and election officials.
Earned Income Tax Credit compliance measures are included in a separate revenue table.
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