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The corporate cuts are permanent, while the individual changes expire at the end of

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).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. Jan 24, The Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent.

[28] 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 [29]Estimated Reading Time: 12 mins. These tax cuts, which are collectively known as the Bush tax cuts, are scheduled to expire at the end of Beginning inmany of the individual income tax parameters (such as tax rates) will revert back to levels. The pending expiration of the Bush tax cuts has generated a great deal of attention as reflected by.

Feb 20, The Bush tax cuts reduced the then percent rate to 35 percent, the 36 percent rate to 33 percent, the 31 percent rate to 28 percent, and the 28 percent rate to 25 percent. It created a new Dec 10, 1. The Bush Tax Cuts Are Costly. Policymakers enacted the Bush tax cuts in 20and extended them in; they are set to expire at the end of As the first chart shows, the tax cuts have been a key driver of the federal deficit and will account fortrillion in deficits over the period if extended.

Debate over what to do regarding the expiration became a regular issue in the and U.

All the tax cuts enacted in 20are scheduled to revert to law on January 1,because they were enacted on a year temporary basis. Here is a comprehensive list of tax cuts expiring at the end of this year. Many which was that the Bush tax cuts ( and ) would, over the year period, allow taxpayers to.