History

• This tax cut program was passed by Congress and signed into effect by President George W. Bush during the first year of his administration.
  
  

Function

• The act reduced personal income tax rates by 3 percent over a 10-year period for taxpayers in all but the highest taxpayer percentile.
  
  

Time Frame

• Some tax reductions introduced over the 10-year period are scheduled to disappear in 2011.
  
  

Features

• The child tax credit will be doubled by 2010 to $1,000, and the "marriage penalty" for joint filing of income taxes was reduced starting in 2005.
  
  

Benefits

• Federal estate taxes will be eliminated for those who die in the year 2010.