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The underlying policy has been criticized by Democratic Party congressional opponents for giving tax cuts to the rich with capital gains tax breaks. [9] Statements by President Bush, Vice President Dick Cheney, and Senate Majority Leader Bill Frist that these tax cuts effectively "paid for themselves" have been disputed by the CBPP, [10] the U ...
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.
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".
The tributes to former President George H.W. Bush have focused on his life of service, his character, his sense of humor, his courage and his leadership. In a eulogy Wednesday at the Washington ...
President Clinton signed the Taxpayer Relief Act of 1997, an enormous tax-reduction bill that radically overhauled the IRS code, making more than 800 changes to U.S. tax law.
Treasury Secretary Tim Geithner is the Obama administration's point man for selling the idea that letting tax rates for the wealthy return to where they were under President Clinton will be good ...
Therefore, policies that reduce income tax rates, such as the Bush tax cuts, dis-proportionally benefit the rich, as they pay the lion's share of the taxes. [24] During President Bush's terms, income inequality grew, a trend since 1980. CBO reported that the share of after-tax income received by the top 1% rose from 12.3% in 2001 to a peak of ...
Despite objections raised by Democrats, and a lengthy delay of the final vote until late Thursday, the House of Representatives has passed an extension of the Bush-era tax cuts, keeping payroll ...