U.S. Department of the Treasury

The President spoke about the importance of keeping taxes low in his Saturday radio address  this week. In 2007 millions of Americans will see their tax bills reduced by billions of dollars thanks to President Bush's 2001 and 2003 tax relief. Now, with that tax relief set to expire in 2010, it's important that relief is made permanent so millions of Americans don't face significant tax increases in the future.  It's also important to ensure that homeowners who are facing foreclosure are not also hit by an unexpected tax bill. In August, President Bush called on Congress to pass legislation to prevent homeowners from having to  pay taxes on their forgiven mortgage debt.   

• President Bush's Weekly Radio Address - 09/29/2007
• Impact of Letting Tax Cuts Expire
• President Bush Announces Relief for Homeowners Facing Foreclosure