In 1963, President Kennedy proposed a tax cut to stimulate the economy. In 1963, Congress approved the tax cut. The one-year period between these two events is attributed to

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The time between when Congress approves a policy and when it is implemented is known as the implementation lag. This lag is often caused by the time it takes for the policy to be put into action by government agencies and for individuals and businesses to respond to the new incentives created by the policy.

In 1963, President Kennedy Proposed a Tax Cut to Stimulate