WASHINGTON, Feb. 6 (UPI) -- U.S. Sen Charles Grassley, R-Iowa, says he hopes to use election year opportunities to make permanent several tax changes due to expire at the end of the year.
Congress Daily AM reported Friday that the Senate Finance Committee chairman said he wanted to extend or make permanent three tax revisions. One is the increase in the child tax credit enacted by Congress last year, another the increase in the standard deduction for married couples and the third the expansion of the 10 percent tax bracket to include higher income individuals.
Grassley said those changes should be extended for at least one or two years, but that a permanent enactment of the breaks could be accomplished.
While President Bush has asked for the litany of tax reductions approved by Congress during his administration be made permanent this year, these three are considered the most likely to be made permanent as support exists in the House for such a move.
However, proponents of extending the credits face tough going with Democrats and some conservative Republicans, who are expected to fight such moves because of the massive federal budget deficit.
