Bush signs tax cut package

WASHINGTON (June 7)—President Bush today signed a $1.35 trillion tax cut package into law. The House and Senate approved the legislation May 26. It contains a number of tax breaks for individual taxpayers, as well as an increase in exemption for the estate tax before its repeal in 2010. Rubber manufacturers, tire dealers and retreaders supported the package in general, though the Tire Association of North America was disappointed the estate tax repeal wasn´t accelerated.