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Debate over what to do regarding the expiration became a regular.

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Jan 24, Bush tax cuts. The phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W. Bush and extended during the presidency of Barack Obama, through: While each act has its own legislative history and effect on the tax code, the JGTRRA amplified and accelerated aspects of the stumplop.buzzted Reading Time: 12 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.

But in the same year, several provisions enacted by President Obama were also in effect expansions of the Earned Income Tax Credit and Child Tax Credit and a payroll tax holiday, which helped low- and middle-income working people.

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. Jul 11, Federal Tax Cuts in the Bush, Obama, and Trump Years. Sincetax cuts have reduced federal revenue by trillions of dollars and disproportionately benefited well-off households. From throughsignificant federal tax changes have reduced revenue bytrillion, with nearly two-thirds of that flowing to the richest fifth of.