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Just after the bill was enacted, Krugman wrote that the stimulus was too small to deal with the problem, adding, "And it's widely believed that political considerations led to a plan that was weaker and contains more tax cuts than it should have – that Mr. Obama compromised in advance in the hope of gaining broad bipartisan support."
According to the Tax Policy Center, the Obama plan provides three times as much tax relief for middle-class families as the McCain plan. [235] Obama's plan includes a temporary "Making Work Pay" program, which gives a tax credit at 6.2% of earned income up to $400 for single workers (making less than $75,000/yr), and an $800 for married couples ...
The top marginal tax rate on income of 39.6%, provided for under the expiration of the 2001 portion of the Bush tax cuts, was retained. This was an increase from the 2003–2012 rate of 35%. [3] The top marginal tax rate on long-term capital gains of 20%, provided for under the expiration of the 2003 portion of the Bush tax cuts, was retained.
Speaking in Cleveland, President Barack Obama offered more details of his plan to get the nation's economic recovery back in gear. Facing polling data that shows his Democratic party may lose one ...
This includes a small stimulus bill Bush signed with bipartisan support in 2008 and the much bigger stimulus measure Obama signed in 2009 with mostly Democratic support. Obama tax cut extensions ...
President Barack Obama's plan to get the U.S. economy going has a strong focus on creating well-paid jobs. Two of the bills he's recently signed, the American Recovery and Reinvestment Act (ARRA ...
The bill was a counter-proposal to the American Recovery and Reinvestment Act of 2009 introduced by President Barack Obama. [1] HR 470 proposes to stimulate the economy without new government spending by implementing a permanent five-percentage point income tax cut for all taxpayers; it also would make permanent current capital gains and dividend tax rates at 15% (current law will allowing ...
The plan included 365.5 billion dollars to be spent on major policy and reform of the health system, 275 billion (through tax rebates) to be redistributed to households and firms, notably those investing in renewable energy, 94 billion to be dedicated to social assistance for the unemployed and families, 87 billion of direct assistance to ...