The Atlanta Journal-Constitution.
The Bush tax cuts included two separate measures that were passed to provide tax relief to families in and to businesses in The measures lowered federal income tax rates for everyone. Feb 20, Capital gains and dividends rate reductions. Prior to the Bush tax cuts, the tax rate on capital gains was 20 percent.
Dividends were taxed at the. Feb 28, InPresident Bush authorized the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA). 5 It reduced tax rates on long-term capital gains and dividends to 15%.
6 It also increased tax deductions for small businesses. The Bush-era tax cuts were designed to reduce taxes for the wealthy, and the benefits of faster growth were then supposed to trickle down to the middle class. But the economic impact of cutting capital gains rates and lowering the top marginal tax rates never materialized for working families. Oct 23, The Legacy of the 20“Bush” Tax Cuts. 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.