The Heritage Foundation Tax Calculator allows you to simulate some key elements of the new tax proposals introduced by President Bush in January 2003. The Calculator shows the 2003 savings to taxpayers from fully phased in marginal rate cuts, the personal dividend exclusion, reform of the marriage penalty, and increasing the child tax credit to $1,000. By entering your income and a few other bits of information, you can quickly get an idea of how much money this new tax law will save you.

Calculate your tax cut:

• Single Filers
• Joint Filers
• Head of Household Filers

The Heritage Tax Calculator reflects values for tax year 2003. It will be updated to show savings for 2004 after the April deadline for filing 2003 income taxes. Please note that this calculator provides estimates only and should not be used to compute your taxes. For example, It does not provide estimates of the Earned Income Tax Credit, the Alternative Minimum Tax, or additional tax liabilities you may have from loss of credits or deductions as your income rises. Some dividends may be taxable under the President's 2003 Economic Growth Package.