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The bill would have also retained tax credits including the child tax.

Oct 23, The 20tax cuts also phased out the estate tax, repealing it entirely in In addition, the tax cuts included three components that are often referred to as “middle-class” tax cuts. One provision created a new bottom income tax rate of 10 percent for some of the income that was previously taxed at a 15 percent shrubtrim.buzzted Reading Time: 11 mins.

Bush Tax Cut Expiration.

A series of tax cuts were enacted early in the George W. Bush Administration by the Economic Growth and Tax Relief Reconciliation Act of (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of (JGTRRA).

These tax cuts, which are collectively known as the Bush tax cuts, were originally scheduled to expire at the end of Feb 15, The 20Bush Tax Cuts: Economic Effects of Permanent Extension.

If Congress does not act soon, millions of taxpayers will see their tax. Feb 28, The Bush tax cuts were two tax code changes that President George W. Bush authorized during his first term. Congress enacted tax cuts to families in and investors in They were supposed to expire at the end of Instead, Congress extended them for two more years, and many of the tax provisions remain in effect- and continue to affect the economy- to this day.

The phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W.

Describes current economic and budgetary environment, and discusses revenue loss and distributional effects of Bush Administration tax cut provisions in P.L.the Economic Growth and Tax Relief Reconciliation Act ofand P.L.the Jobs and Growth Tax Relief Reconciliation Act ofboth extended until the end of Examines Bush tax cuts within context of current and. bush-tax-cuts. SUMMARY Tax cuts alone do not equal free-market economics, nor do they equal fiscal reform. Tax revenues fell from percent of GDP in to percent of GDP in The 20Bush tax cuts and 91790 West Covina CA Bush.