Search results
Results from the WOW.Com Content Network
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.
According to the Center on Budget and Policy Priorities, the expiration of the Bush income tax rates (i.e., returning to Clinton-era rates) would have affected higher income families more than lower income families. The Bush tax cuts reduced income taxes for those earning over $1 million by $110,000 per year on average during the 2004–2012 ...
The Economic Growth and Tax Relief Reconciliation Act of 2001 was a major piece of tax legislation passed by the 107th United States Congress and signed by President George W. Bush. It is also known by its abbreviation EGTRRA (often pronounced "egg-tra" or "egg-terra"), and is often referred to as one of the two "Bush tax cuts".
Wealthy Americans could pay around $50,000 more in taxes if Congress decides to let Bush tax cuts expire this year. For example, a married New Yorker earning about $1 million in income, with an ...
Need help? Call us! 800-290-4726 Login / Join. Mail
The United States fiscal cliff refers to the combined effect of several previously-enacted laws that came into effect simultaneously in January 2013, increasing taxes and decreasing spending. The Bush tax cuts of 2001 and 2003, which had been extended for two years by the 2010 Tax Relief Act, were
(The Center Square) – An Illinois congressman is urging lawmakers to extend President Donald Trump’s 2017 tax cuts. Many provisions of the Tax Cuts and Jobs Act are set to expire at the end of ...
On November 5, 1990, Bush signed the Omnibus Budget Reconciliation Act of 1990. [13] Among other provisions, this raised multiple taxes. The law increased the maximum individual income tax rate from 28 percent to 31 percent, and raised the individual alternative minimum tax rate from 21 percent to 24 percent.