... a family of four with two wage earners making $39,000 would save $1,100. How much of those savings taxpayers would keep, however, is another question. Many states have been facing fiscal problems and are planning spending cuts and tax increases. "There's no question that a significant fraction of savings...are going to be gobbled up by hungry state and local governments," said ... large estates would not be taxed by the federal government. They may, however, still be taxed at the state level. President Bush Taking Action to Strengthen America's Economy Chicago, Illinois Policy in Focus:...

• Word Count: 7291
• Approx Pages: 29
• Grade Level: High School