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.
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 percent of households receiving an average tax cut Estimated Reading Time: 11 mins.
Before the tax cuts, the highest marginal income tax rate was percent. After the cuts, the highest rate was 35 percent. Once the cuts were eliminated for high income levels (single people making,+ per year and couples making,+ per year), the top income tax Estimated Reading Time: 12 mins. Jan 17, It's pretty simple: having previously raised the top rate on ordinary income to 35 percent under Bill Clinton, Congress dropped the top rate on long-term cap gains and dividends to 15 percent on George W.
Bush. Then the IRS ruled that"carried interest" is capital income, even tho it's a pretty metaphysical distinction. Dec 02, With some arguing the cuts favored the rich."If you're a millionaire, under the Bush tax cut you get a 46, tax cut, more than enough to pay for.