Developed in by economist Arthur Laffer, the curve depicts how tax.
Oct 23, The 20tax cuts also phased out the estate tax, repealing it entirely in In addition, the tax cuts included three components that are often referred to as “middle-class” tax cuts. One provision created a new bottom income tax rate of 10 percent for some of the income that was previously taxed at a 15 percent bushlopping.barted Reading Time: 11 mins. Feb 28, InPresident George Bush authorized a tax cut called the Economic Growth and Tax Relief Reconciliation Act of (EGTRRA) to stimulate the economy during the recession that year.
2 3 The major provisions were to reduce marginal income tax rates and reduce and eventually repeal estate tax.
It is also known by its abbreviation EGTRRA often pronounced egg-tra or egg-terra, and is often referred to as one of the twoBush tax cuts.
As a result, it saved taxpayers, but not equally. Mar 03, The tax cuts passed All the Republican senators (with the exception of John McCain, R-Ariz.) were joined by 12 Democrats to pass the measure.
But the tax cuts. Jun 07, One provision of the law -- the cut of the lowest tax rate to 10 percent -- was made retroactive to January 1,and taxpayers will be sent a. May 08, Among them were rulings on points of order and procedure connected to the tax and budget debate at the heart of President Bush’s administration. Senate rules require 60 votes to cut.