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Administration officials like Vice President Joe Biden then worked to convince.

May 26, According to CTJ, the Bush tax cuts that were passed up through (the 20cuts as well as other smaller cuts inand ) ended up costing the Treasury approximatelytrillion in foregone revenue from to CTJ claims that if you add interest payments, that number goes up to aroundbushremove.buzzted Reading Time: 5 mins. Jan 29, It is projected that repealing the Bush tax cuts would nudge revenues up to percent of GDP, not counting any revenue losses from the negative economic impact of the tax hikes.

Jan 07, Short of major revenue increases, projected general revenue consequently will grossly underfund government services and investments; relative to a current law baseline (in which the tax cuts would have expired), passing the income tax rate cuts will lead totrillion in lost revenue over a decade, according to Citizens for Tax Justice. President Obama’s initial negotiating proposal to.

Sep 14, The cuts in question are tax changes that were enacted during the Bush administration that dramatically cut income and estate tax rates and revenues. The Estimated Reading Time: 9 mins. 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 Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent. 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 abouttrillion between and Feb 15, George Bush's massivetrillion (£1,bn) tax cut plans are coming under criticism from two groups who would normally be thought of as among his most committed supporters.