Washington (May 28, 2003) -- The new tax cut bill approved by the House and Senate is mostly a hodgepodge of expiring provisions the Bush Administration hopes to extend -- and could wind up costing more than $1.06 trillion over the next decade, according to the Center on Budget Policy and Priorities.

Blasting the new measure as containing "unprecedented use of budget gimmicks" CBPP president Robert Greenstein warned that the legislation mostly benefits the rich and could seriously impact the economy.

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