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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 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) – 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 ...
(The Center Square) – After Gov. J.B. Pritzker proposed a budget anticipating $55.4 billion in state taxpayer funds, the process of coming to a revenue estimate for the looming Illinois state ...
ABC News Live (a.k.a. ABCNL) is an U.S.-based streaming video news channel for breaking news, live events, newscasts, and longer-form reports and documentaries operated by ABC News since 2018.
(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 Jobs and Growth Tax Relief Reconciliation Act of 2003 ("JGTRRA", Pub. L. 108–27 (text), 117 Stat. 752), was passed by the United States Congress on May 23, 2003, and signed into law by President George W. Bush on May 28, 2003. Nearly all of the cuts (individual rates, capital gains, dividends, estate tax) were set to expire after 2010.
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related to: bush tax break law in illinois news live youtube abc news live youtube