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Jan 06, Income Tax Extensions and Changes. The bill maintains tax cuts across all brackets and introduced an additional 2% reduction in the payroll tax rate for only. The payroll tax credit cut most workers' Social Security taxes by nearly a Estimated Reading Time: 5 mins. The phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W. Bush and extended during the presidency of Barack Obama, through: Economic Growth and Tax Relief Reconciliation Act of Jobs and Growth Tax Relief Reconciliation Act of Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of American Taxpayer Relief Act of While each act has its own legislative history and effect on the tax Estimated Reading Time: 12 mins.

Feb 28, No Congressperson wanted to jeopardize re-election by voting against a proposed extension to the Bush tax cuts and thereby raising taxes on low- and middle-income Americans. As a result, Congress and President Obama approved a two-year extension of the tax cuts until as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Missing: Everett MA. Dec 06, The Senate failed on Saturday to overcome Republican-led opposition to two bills extending the Bush-era tax cuts to taxpayers making less than, and 1 million a year, prompting leaders to talk Sunday of progress toward a deal extending tax cuts for people at all income levels on a temporary basis, along with unemployment treelopping.buzzted Reading Time: 5 mins.

Jan 07, While the Bush tax cuts were designed as overwhelmingly regressive, the most recent deal does add some progressivity to the tax code, by allowing the cuts to expire on the top percent of taxpayers (remember that even if taxes do go up on someone earning, that person still enjoys lower rates on income below the,/, threshold).Missing: Everett MA. Extension of Bush Tax Cuts. The issue came to a head in lateduring a lame-duck session of the th Congress.

At the"Slurpee Summit" of November 30, President Barack Obama appointed Treasury Secretary Tim Geithner and Office of Management and Budget chief Jack Lew to help Republicans and Democrats hammer out an agreement on extending the Bush tax treelopping.buzzg: Everett MA.