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FROM THE OFFICE OF PUBLIC AFFAIRS

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March 15, 2002
Report-3056

General Explanations of the Administration's Fiscal Year 2003 Revenue Proposals, February

This report summarizes the revenue proposals in the Administration’s Fiscal Year 2003 Budget. These proposals are part of a program designed to strengthen the American economy, create jobs, and foster economic growth. The proposals affect a wide range of areas including encouraging saving, strengthening education, investing in health care, increasing housing opportunities, protecting the environment, and encouraging charitable giving. To maintain their favorable effects and provide greater certainty for economic and financial planning, the proposals extend several tax provisions that expired in 2001 and permanently extend the tax cuts enacted in the Economic Growth and Tax Relief Reconciliation Act of 2001 as well as the Research and Experimentation tax credit.

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