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The Economic Growth and Tax Relief Reconciliation Act Prudential Form
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People also ask
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What did Atra do?
The American Taxpayer Relief Act of 2012 (ATRA) was enacted and passed by the United States Congress on January 1, 2013, and was signed into law by US President Barack the next day. ATRA gave permanence to the lower rates of much of the "Bush tax cuts". -
What was the effect of the Bush tax cuts on the US government deficit and debt?
Making the tax cuts permanent for all taxpayers, regardless of income, would increase the national debt $3.3 trillion over the next 10 years. -
What did the Economic Growth and Tax Relief Reconciliation Act do?
In 2001, President Bush proposed and signed the Economic Growth and Tax Relief Reconciliation Act. This legislation: Reduced tax rates for every American who pays income taxes, including creating a new 10 percent tax bracket. Doubled the child tax credit to $1,000 by 2010. -
How did Egtrra affect the national budget?
Due to the narrow Republican majority in the United States Senate, EGTRRA was passed using the reconciliation process, which bypasses the Senate filibuster. EGTRRA lowered federal income tax rates, reducing the top tax rate from 39.6 percent to 35 percent and reducing rates for several other tax brackets. -
How did the Egtrra of 2001 affect the national budget?
In 2001, President Bush proposed and signed the Economic Growth and Tax Relief Reconciliation Act. This legislation: Reduced tax rates for every American who pays income taxes, including creating a new 10 percent tax bracket. Doubled the child tax credit to $1,000 by 2010. -
Which of the following was a basic feature of the Tax Relief Act of 2001?
The basic feature of the Tax Relief Act of 2001 was the reduction of marginal rates. -
Was the Egtrra expansionary or contractionary?
The Economic Growth and Tax Relief Reconciliation Act of 2001 was expansionary, implemented to stimulate the economy during a recession by cutting taxes and increasing aggregate demand. -
Was the Egtrra expansionary or contractionary?
The Economic Growth and Tax Relief Reconciliation Act of 2001 was expansionary, implemented to stimulate the economy during a recession by cutting taxes and increasing aggregate demand.
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