What was the purpose of the two tax bills that President George W.Bush signed after taking office in 2001?
A) To cut taxes significantly
B) To raise taxes in order to reduce the federal deficit
C) To cut taxes that disproportionately benefited low-income workers
D) To raise taxes to ensure the future of Social Security and Medicare

Question

Quizplus · Accepted Answer

The purpose of the two tax bills signed by President George W. Bush in 2001 was to cut taxes significantly. The Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 reduced tax rates, increased the child tax credit, and eliminated the estate tax. These bills were aimed at providing economic stimulus and increasing investment and job creation.

What Was the Purpose of the Two Tax Bills That