Heard on the Web: Analysis of the Expiration of the 2001-2003 Tax Cuts

The Tax Policy Center of the Urban Institute and Brookings Institution has published an analysis of the expiration of the tax cuts enacted in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) that will occur at the end of 2010 unless Congress acts to extend them. The report predicts that if the cuts do expire as scheduled, income taxes will rise sharply for most Americans.