Intent

• The tax relief act increased the amount of the child tax credit overall by offering a flat $1,000 every year from 2004 to 2010, rather than fluctuating amounts. It replaced the provisions of the Economic Growth and Tax Reconciliation Act of 2001, which called for a $700 tax credit from 2005 until 2008. After that, the credit was to increase to $1,000 by the year 2010.
  
  

Deduction

• The standard deduction rate increased for joint returns when Bush signed the Working Families Tax Relief Act. Those who filed jointly received a deduction that was 200 percent of the standard deduction for singles from 2005 to 2010, rather than the 167 percent that was planned in the Economic Growth and Tax Reconciliation Act of 2001.
  
  

Credits

• Several kinds of available credits were extended in the Working Families Tax Relief Act, including the research tax credit, work opportunity tax credit, welfare-to-work tax credit and renewable resources credit. To encourage people to buy environmentally friendly cars, the act also extended the credit available to those who bought qualified electric vehicles.