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However, Bush soon confirmed that tax increases were on the table. [3]: 34 Some of the most enraged over the change in policy were other Republicans, including House Whip Newt Gingrich, the Senate leadership, and Vice President Dan Quayle. They felt Bush had destroyed the Republicans' most potent election plank for years to come.
Over the course of the prior year, President George H. W. Bush negotiated with Congressional leaders on a deficit reduction plan. At the time, Congress was controlled by Democrats. In June, Bush announced support for tax increases to break a stall in the negotiations, abandoning his campaign promise of "read my lips: no new taxes".
By Elizabeth Barber BOSTON (Reuters) - Former U.S. President George H.W. Bush showed courage in breaking his "read my lips: no new taxes" campaign pledge to broker a 1990 budget compromise that ...
The 2004 vote-fraud conspiracy movement never really died. What does that mean for Trump’s true believers—and America? What Happened to the Democrats Who Never Accepted Bush’s Election
The Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent. [29] The New York Times stated in an editorial that the full Bush-era tax cuts were the single biggest contributor to the deficit over the past decade, reducing revenues by about $1.8 trillion between 2002 and 2009. [30]
The new chairman of the House committee responsible for writing U.S. tax legislation predicts the Bush era tax cuts will expire for the wealthiest Americans, but that tax cuts for middle income ...
In September 1990, Bush and congressional Democrats announced a compromise to cut funding for mandatory and discretionary programs while also raising revenue, partly through a higher gas tax. [40] The compromise included a "pay as you go" provision that required that new programs be paid for at the time of implementation. [41]
Treasury Secretary Timothy Geithner said the Bush-era tax cuts for the wealthiest Americans should be allowed to expire this year in order to narrow the federal government's deficit. The New York ...