Oct 23, The biggest tax policy changes enacted under President George W. Bush were the 20tax cuts, often referred to as the “Bush tax cuts” but formally named the Economic Growth and Tax Relief Reconciliation Act of (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of (JGTRRA). High-income taxpayers benefitted most from these tax cuts, with the top 1 Estimated Reading Time: 11 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.
Economists Peter Orszag and William Gale described the Bush tax cuts as reverse government redistribution of wealth," [shifting] the burden of taxation away from upper-income, capital-owning households and toward the wage-earning households of the lower and middle classes."Estimated Reading Time: 12 mins. President Bush worked with Congress to reduce the tax burden on American families and small businesses to spur savings, investment, and job creation.
InPresident Bush proposed and signed the Economic Growth and Tax Relief Reconciliation Act. This legislation: Reduced tax rates for every American who pays income taxes, including creating a new 10 percent tax bracket. Mar 14, Jobs And Growth Tax Relief Reconciliation Act of An act passed by congress that was intended to improve the economy of the United States by reducing the taxes collected, giving the.