Bush Signs $70-Billion Tax-Cut Bill Into Law
From Times Wire Reports
President Bush signed a $70-billion tax-cut bill.
“With this bill, we’re sending the American people a clear message about our policy,” Bush said. “We’re going to continue to trust the American people with their own money.”
Democrats overwhelmingly opposed the legislation, saying the tax cuts on capital gains and dividends would flow mostly to the rich. The legislation provides a two-year extension of the reduced 15% tax rate for capital gains and dividends; it was to expire at the end of 2008.
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