What Effects Would the Expiration of the 2001 and 2003 Tax Cuts Have on the Economy?

Description:

In 2001 and 2003, Congress enacted major tax cuts (popularly referred to as the "Bush tax cuts"), the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. Congress is currently debating whether to extend some or all of these tax cuts that are scheduled to expire at the end of 2010. This report discusses the two main economic arguments against allowing the tax cuts to expire as scheduled, using historical evidence and by examining the current economic environment.

Creator(s): Labonte, Marc
Location(s): United States
Creation Date: October 5, 2010
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Creator (Author):
Labonte, Marc

Specialist in Macroeconomic Policy

Publisher Info:
Place of Publication: Washington, D.C.
Date(s):
  • Creation: October 5, 2010
Coverage:
Place
United States
Description:

In 2001 and 2003, Congress enacted major tax cuts (popularly referred to as the "Bush tax cuts"), the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. Congress is currently debating whether to extend some or all of these tax cuts that are scheduled to expire at the end of 2010. This report discusses the two main economic arguments against allowing the tax cuts to expire as scheduled, using historical evidence and by examining the current economic environment.

Physical Description:

10 pages.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text