Married filing jointly, one income of $45,000, two children under 17, two dependents 17 or over, no charitable contribution

Total income $45,000

Dependents under 17- 2

Dependents 17 or older - 2

Standard deduction 7,600

Personal exemption 17,400

Charitable contribution 0

Tax using current tax law Tax under Bush proposal

Charitable contribution $ 0

Taxable income $20,000 Taxable income 20,000

Child tax credit 1,000 Child tax credit 2,000

Total taxes 2,000 Total taxes 400

Tax cut under Bush proposal $1,600

Rate change $ 600

Increased child credit 1000

Percentage tax cut 80

Increase in family income 3.56%

© 2001 Deseret News Publishing Company

Source: D. Brock Griffiths, tax specialist with Ernst & Young