Bush had vowed to cut taxes during his presidential campaign.

Bush tax cuts are the reduced individual income tax rates, the reduction of the marriage penalty (and increase in the marriage bonus), the repeal of the personal exemption phaseout and the limitation on itemized deductions, the reduced tax rates on long-term capital gains and qualifiedCited by: 1.

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. The major provisions were to reduce marginal income tax rates and reduce and eventually repeal estate tax.

As a result, it saved taxpayers, but not equally. 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. Jun 07, Fifteen years ago, today, President George W. Bush signed the Economic Growth and Tax Relief Reconciliation Act of into law – perhaps the single most consequential piece of tax legislation enacted in the last treeclearing.barted Reading Time: 7 mins.

Nov 30, For one, most of the tax cuts Bush initiated in weren't of the type that would be expected to have a large impact on growth. As noted by former Reagan economic Estimated Reading Time: 6 mins. The Bush tax cuts were a series of temporary income tax relief measures enacted by President George W.

Bush in and They occurred through two pieces of legislation: the Economic Growth. A series of tax cuts were enacted early in the George W. Bush Administration by the Economic Growth and Tax Relief Reconciliation Act of (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of (JGTRRA).

These tax cuts, which are collectively known as the Bush tax cuts, were originally scheduled to expire at the end of