The Economic Growth and Taxpayer Relief Reconciliation Act passed by Congress and signed by President George W.Bush did which of the following?

Question

Quizplus · Accepted Answer

The Economic Growth and Taxpayer Relief Reconciliation Act gave a $300 check to each taxpayer. It did not immediately cut federal tax rates by one-third or decrease the tax on income from financial investments. It did not directly decrease the federal budget deficit but some argued that the tax cuts could potentially stimulate economic growth and increase tax revenue. It did not increase the number of personal income tax brackets.

The Economic Growth and Taxpayer Relief Reconciliation Act Passed by Congress