Deficit-Spending

Trump Signs Tax Cuts and Jobs Act - Corporate Rate Permanently Slashed from 35% to 21%, Pass-Through Deduction, Estate Tax Exemption Doubled, $1.9 Trillion Added to Deficit

2017-12-22 00:00:00 +0000 UTC | Importance: 10/10

On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (TCJA) into law, enacting the most sweeping tax reform package in 30 years and permanently slashing the corporate tax rate from 35% to a flat 21%—a 40% reduction representing the largest corporate tax cut in American …

Donald Trump Paul Ryan Mitch McConnell Kevin Brady Orrin Hatch +5 more tax-policy trump-administration corporate-corruption wealth-transfer deficit-spending +5 more

Obama Signs American Taxpayer Relief Act Making 82% of Bush Tax Cuts Permanent - 'Fiscal Cliff' Deal Locks in $2.8 Trillion in Tax Cuts for Wealthy

2013-01-02 00:00:00 +0000 UTC | Importance: 9/10

On January 2, 2013, President Barack Obama signed the American Taxpayer Relief Act of 2012 (ATRA) into law, resolving the ‘fiscal cliff’ crisis by making permanent 82% of President Bush’s tax cuts—approximately $2.8 trillion of the $3.4 trillion total Bush tax cut package estimated …

Barack Obama Joe Biden Mitch McConnell John Boehner Harry Reid +3 more tax-policy obama-administration fiscal-cliff bipartisan-complicity wealth-transfer +4 more

Bush Signs EGTRRA Tax Cuts - Top Rate Reduced from 39.6% to 35%, Estate Tax Phased Out, Beginning $1.5 Trillion Debt Increase

2001-06-07 00:00:00 +0000 UTC | Importance: 8/10

On June 7, 2001, President George W. Bush signed the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) into law, enacting the first wave of the ‘Bush tax cuts’ that would add approximately $1.5 trillion to the national debt over the 2002-2011 decade, excluding interest. The …

George W. Bush Dick Cheney Paul O'Neill Dennis Hastert Trent Lott +3 more tax-policy bush-administration supply-side-economics wealth-transfer deficit-spending +4 more

Reagan Signs TEFRA Reversing Much of ERTA - Largest Peacetime Tax Increase Raises $100 Billion After Revenue Collapse

1982-09-03 00:00:00 +0000 UTC | Importance: 7/10

On September 3, 1982, President Ronald Reagan signed the Tax Equity and Fiscal Responsibility Act (TEFRA) into law, reversing substantial portions of the Economic Recovery Tax Act he had signed just 13 months earlier. TEFRA raised nearly $100 billion in federal revenues through closure of tax …

Ronald Reagan Robert Dole Jack Kemp Bruce Bartlett Senate Finance Committee tax-policy reagan-administration supply-side-economics deficit-spending fiscal-crisis +3 more

Reagan Signs Economic Recovery Tax Act (ERTA) - Top Rate Slashed from 70% to 50%, Corporate Tax Cuts Total $150 Billion Over Five Years

1981-08-13 00:00:00 +0000 UTC | Importance: 9/10

On August 13, 1981, President Ronald Reagan signed the Economic Recovery Tax Act (ERTA) into law, enacting one of the largest tax cuts in American history. The Act reduced the highest marginal individual income tax rate from 70% to 50% and the lowest rate from 14% to 11%, implementing an …

Ronald Reagan Jack Kemp William Roth David Stockman Heritage Foundation +3 more tax-policy reagan-administration supply-side-economics corporate-corruption wealth-transfer +4 more