Coloradans Get Big Chunk of Tax Cuts ; Only Washington Saves More, Irs Study Says

Summary

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Colorado taxpayers are some of the biggest beneficiaries of President Bush's tax cuts since they began in 2001, reducing their annual tax payment to the Internal Revenue Service by an average of $2,254, according to data released this week by the Tax Foundation, a nonpartisan group that analyzes IRS data.

The average taxpayer in the state paid $6,272 in federal income taxes in 2004, the first full year in which all of the tax cuts were in effect. That's down 26.4 percent from 2000, before the tax cuts began.

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Extract

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Coloradans Get Big Chunk of Tax Cuts ; Only Washington Saves More, Irs Study Says

Bush's tax cuts enacted in 2001 and 2003 included a tax credit of $1,000 per child; a reduction in taxbracket rates and investm...

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