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There was and is considerable controversy over who benefited from the tax cuts and whether.

Jan 24, On January 1,the Bush Tax Cuts expired. However, on January 2,President Obama signed the American Taxpayer Relief Act ofwhich reinstated many of the tax cuts, effective retroactively to January 1.

The Act did not repeal the increase in the highest marginal income tax rate (from 35% to %) which had been imposed on Estimated Reading Time: 12 mins.

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Jun 28, John F. Clark Treasurer / Collector Email Boston Road Billerica, MA Treasurer Ph: Tax Collector Ph: Water Billing. year temporary basis. Here is a comprehensive list of tax cuts expiring at the end of this year. Many are the so-called Bush tax cuts from his first term, but many have been enacted since, during both the Bush and Obama administrations. The probability that Congress will just let all those tax cuts expire at the end of is small.

The result. May 26, Back in the good 'ole days of budget surpluses (i.e., and ), the Bush administration was concerned that if surpluses grew too large, they would Photo: bobster / Flickr Back in the good 'ole days of budget surpluses (i.e., and.

That is off the top of my head.

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).

Dec 07, This could lead to the slowing of growth of real GDP by percent. Allowing the Bush era tax cuts to expire would include lowering the amount of the child tax credit from 1, per child to.