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Proposed Tax Cuts
Benefits Calculated
Washington, D.C.--A worker with a wife and two childern earning $7,500 a year and claiming standard deductions could expect his taxes to be reduced by $191 under the tax schedule recently approved by the House Ways and Means Committee. This would be a 22 percent reduction on the fami. ly’s present tax of $877. The new tax would total $686.
This is one example drawn from tables released by the U.S. Treasury Department showing the income tax cuts individuals would receive as a result of the Committee’s action. •
Depending on the exact income and number of dependents, workers within the
85.9%