Haven’t the Republicans in the House potentially opened up a big tactical opportunity for Democrats? The Bush tax bill is heavily tilted toward tax breaks for the wealthiest Americans. But it does include meaningful cuts for many middle-income families.
But the great proportion of those cuts aren’t related to drops in marginal rates. They’re tied to the expansion of the child tax credit from $500 to $1000.
The version of the tax bill currently racing through the House doesn’t include that; and that makes the tax cut for middle-income families almost laughably paltry.
