In 1992, the first Bush administration was worried about a lingering recession. The administration announced that households would receive a reduction in their taxes for the year 1992. However, this was not accompanied by a reduction in tax rates, and the taxes would have to be repaid when households filed their taxes in April 1993. Explain the impact of such a policy.

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The Answer of In 1992, the first Bush administration was worried about a lingering recession. The administration announced that households would receive a reduction in their taxes for the year 1992. However, this was not accompanied by a reduction in tax rates, and the taxes would have to be repaid when households filed their taxes in April 1993. Explain the impact of such a policy.

In 1992, the First Bush Administration Was Worried About a Lingering