re: #135 jamesfirecat

Not exactly. The tax rate cut lasts as long as the amended rate is scheduled to - the 2001 and 2003 rate changes expire 12/31/2010 - meaning that they revert to their prior rates beginning January 1, 2011.

The rates apply to everyone within those brackets (for purposes of this discussion, I’m excluding the AMT, which hits taxpayers over a certain dollar limit and overlays the tax brackets).

A tax credit will not apply to all taxpayers within all tax brackets, or even within a single tax bracket - the taxpayer has to calculate the credit if he or she is eligible for the credit.

Tax credits may also have expiration dates - the energy star credits actually expired a few years back, and lapsed for a single year before being reimplemented. They too are set to expire after this year unless Congress acts.