Sunday, October 28, 2001

While we were out searching our mailboxes for anthrax...

The House Ways and Means Committee approved an "economic stimulus package" (nine syllable way to say "tax cut") that includes about $25 billion in immediate, retroactive tax rebates to large corporations. If you recall, the last tax cut (excuse me, "economic stimulus package") we experienced last summer did nothing to stimulate the economy, but did manage to eat up the budget surplus. With this package we'll be going back into deficit mode at the same time that the Federal government will be called upon to help out with one or two emergencies.

Get more details on the beneficiaries of this tax cut here (from Citizens for Tax Justice).

Get a more in-depth article about the politics involved here (from Center on Budget and Policy Priorities).

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