Tax Cuts Are Good, But Also Raise Concerns - KCBD NewsChannel 11 Lubbock

5/28/03

Tax Cuts Are Good, But Also Raise Concerns

The $350 billion tax cut package should provide substantial tax relief to136 million Americans.

Most middle and upper-class wage earners will see a modest increase in their paycheck by summer's end, because less taxes will be withheld. It also eases the marriage-tax penalty, and offers new breaks for businesses and investors.

The only refund checks will be going out to parents who qualify for a so-called "child credit". As much as $400 per child. While many parents are grateful for the extra cash, some are questioning whether it is the right prescription for an ailing economy.

"It will definitely help the family, but one concern I have is the government giving away money at the same time and racking up huge deficit. There are concerns there. At home, yeah it's a great thing. I don't know if it's a good thing for the whole picture," says Ed Marlin, a Lubbock father of two.

And those concerns are exactly what makes this bill so controversial. In order to pay for it, the federal debt was raised yesterday to $7.4 trillion.

  • Local News on KCBD.comNewsMore>>

  • Kelly defends plan for Russia back channel as a 'good thing'

    Kelly defends plan for Russia back channel as a 'good thing'

    Monday, May 29 2017 1:09 PM EDT2017-05-29 17:09:25 GMT
    Monday, May 29 2017 1:09 PM EDT2017-05-29 17:09:25 GMT

    Homeland Security secretary defends an alleged effort by top White House adviser Jared Kushner to create back-channel communications.

    Homeland Security secretary defends an alleged effort by top White House adviser Jared Kushner to create back-channel communications.

  • Trump hails the fallen and their families at Arlington

    Trump hails the fallen and their families at Arlington

    Monday, May 29 2017 1:09 PM EDT2017-05-29 17:09:10 GMT
    Monday, May 29 2017 1:09 PM EDT2017-05-29 17:09:10 GMT

    President Donald Trump is set to lay a wreath and deliver his first Memorial Day address at Arlington National Cemetery.

    President Donald Trump is set to lay a wreath and deliver his first Memorial Day address at Arlington National Cemetery.

  • Trump lashes out at leaks, considers staff upheaval

    Trump lashes out at leaks, considers staff upheaval

    Monday, May 29 2017 1:09 PM EDT2017-05-29 17:09:02 GMT
    Monday, May 29 2017 1:09 PM EDT2017-05-29 17:09:02 GMT

    Frustrated with what he views as his team's inability to push back against the drumbeat of new revelations, Trump is seeking expanded teams of lawyers and experienced public relations hands.

    Frustrated with what he views as his team's inability to push back against the drumbeat of new revelations, Trump is seeking expanded teams of lawyers and experienced public relations hands.

Powered by Frankly