White House – Fact Sheet: the Largest Tax Increase in History Is Looming, May 28, 2008 – “President Bush’s 2001 and 2003 tax relief fueled economic growth and reduced the marginal rate for every income tax bracket. By the end of last year, Americans would have paid an additional $1.3 trillion in taxes had it not been for the President’s tax relief. If the President’s tax relief is allowed to expire at the end of 2010, Americans will pay about $280 billion more in taxes each year. With the largest tax increase in history looming, Congress should make the President’s tax relief permanent.”