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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 Center Square) – Homeschool groups have concerns about President-elect Donald Trump’s proposed tax credit as Illinois lawmakers look at regulating the practice. Trump, in a video posted ...
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.
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. It also increased other taxes, including payroll and excise taxes, and limited itemized deductions for high-income individuals.
A tax credit scholarship program set to expire at year's end could potentially impact thousands of private school students in Illinois, backers say. ... into law if the legislature agreed ...
A new countywide 1% sales tax would, for example, generate an estimated $23.9 million a year for Rockford Public Schools with its 27,513 students, $5.4 million for the Harlem School District and ...
Signed into law by President George H. W. Bush on November 5, 1990 [1] The Omnibus Budget Reconciliation Act of 1990 ( OBRA-90 ; Pub. L. 101–508 , 104 Stat. 1388 , enacted November 5, 1990 ) is a United States statute enacted pursuant to the budget reconciliation process to reduce the United States federal budget deficit.
(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 ...