New law includes tax relief provisions.(Tax Relief and Health Care Act of 2006)(Law overview)

The bipartisan Tax Relief and Health Care Act of 2006 [P.L. 109-432], which was signed by President Bush on December 20, 2006, extends tax relief for certain taxpayers and addresses key health and trade provisions that impact families, Medicare beneficiaries, farmers, and businesses, according to U.S. Sen. Chuck Grassley (R-Iowa), chairman of the Senate's Committee on Finance and a key author of the legislation.

Broad Spectrum of Provisions Included

The White House released a fact sheet on the legislation, saying that it promotes economic progress in four key ways:

1. Extending key tax relief measures

2. Helping expand and diversify the country's energy supply

3. Helping open new global markets for U.S. goods and services

4. Helping make health care more affordable and accessible for more citizens …