Washington
DC Office
307 Dirksen Senate
Office Building
Washington, D.C. 20510
Phone: 202-224-6441
Fax: 202-224-1724
Wyoming Office
P.O. Box 22201
Casper, WY 82602
307-261-6413
|
|
| |
 |
 |
 |
 |
Contact: Cameron Hardy
202-224-6441 |
 |
|
| |
Thomas: Wyo Seeing Lower Taxes, More Jobs
Treasury, BLS data show Wyo reaping benefits of sound economic policy |
| |
April 7th, 2006 - WASHINGTON – U.S. Senator Craig Thomas is lauding the country’s strong economic growth at the release today of data from both the Bureau of Labor Statistics (BLS) and the Department of Treasury.
“Wyoming taxpayers are seeing a lighter tax burden thanks to Republican-led tax relief packages and outstanding job growth,” Thomas said. “Our lower tax rates and the resulting growth are very strong signs that the foundation we laid for the economy is working.”
“Clearly, thousands of people across Wyoming are reaping the benefits of tax relief,” Thomas said.
Estimates released by the Department of the Treasury show that hundreds of thousands of Wyoming taxpayers will enjoy a lighter burden this tax day thanks to the tax relief package passed by Congress in 2001 and the jobs and growth tax relief measure of 2003.
Wyoming benefits of the two tax relief packages:
• 195,000 taxpayers in Wyoming will have lower income tax bills
• 176,000 taxpayers in Wyoming will benefit from the new 10-percent bracket
• 42,000 taxpayers in Wyoming will benefit from the reduction in income tax rates above 15-percent and the acceleration to 2003 of the reductions scheduled for 2004 and 2006.
• 65,000 married couples in Wyoming will benefit from the acceleration to 2003 of the provisions that increase the standard deduction for joint filers to double the amount for single filers and increase the width of the 15-percent bracket to twice the width for single filers. These two provisions were scheduled to phase in between 2005 and 2009.
• 50,000 married couples and single parents in Wyoming benefit from the increase in the child tax credit under both tax relief provisions and the increase from $600 to $1,000 that was scheduled to phase in between 2005 and 2010.
• 41,000 taxpayers in Wyoming will benefit from the reduced tax rates on capital gains and corporate dividends under the 2003 jobs and growth tax relief measure.
Bureau of Labor Statistics Data
In addition, the BLS released data on the March employment situation. The U.S. economy produced 211,000 new payroll jobs in March, well above consensus expectations. In the past 12 months 2.23 million new jobs have been created; since August 2003 more than 5 million new jobs have been created. The U.S. economy has experienced 31 consecutive months of job growth.
“This is the lowest unemployment rate nationwide in more than four years,” Thomas said. “And Wyoming not only has one of the lowest unemployment rates in the country, but has gained 8,500 jobs over the last year.”
The nation’s unemployment rate edged downward from 4.8% to 4.7%. At 4.7%, the unemployment rate is below the average of the 1960s, 1970s, 1980s and 1990s.
The full BLS release can be found at http://www.bls.gov/news.release/pdf/empsit.pdf. Additionally, the statement from the commissioner of BLS, which provides a good summary of today’s report, can be found at http://www.bls.gov/news.release/pdf/jec.pdf.
Thomas is a senior member of the tax-writing Senate Finance Committee.
###
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7th - |
current Press Release |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
