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Critics state that the tax cuts, including those given to middle and lower income households.

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 Estimated Reading Time: 11 mins. Feb 28, The plan lowered the top individual tax rate from % to 37% and cut the corporate tax rate from a maximum rate of 35% to a flat rate of 21%. The corporate cuts are permanent, while the individual changes expire at the end of 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 Jan 24, 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 Estimated Reading Time: 12 mins.

How did the Bush tax cuts get passed and what are the differences between Congress then and now? Close. 5. Posted by 5 years ago. Archived. How did the Bush tax cuts get passed and what are the differences between Congress then and now?

What's the likelihood of more tax cuts? How much can the Democrats drag their feet this time? 6 comments. share. Oct 20, The main difference between the Bush tax cuts and the Obama tax strategy As initially scheduled when they were enacted, the Bush tax reductions expire around the finish of the year.

Those making, years and above would bid farewell to the Bush tax cuts under Obama’s suggestion, when everybody else gets a two year extension. 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. Jan 06, She will keep paying federal income taxes at the current rates.

She will gain a one-year tax cut from % to % on her payroll tax for Social Security, saving 1, She will lose a tax credit from the stimulus plan worthIt looks like this: 10, would have been the tax under the old law; 9, is tax under the new law.

Nov 11, Sometimes, a visual does especially well at showing information. Watch the following Rachel Maddow clip from to; be sure to watch to the end of that because the first version you see changes. This is an especially clear picture of the difference between the two parties on this.