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Bush signs $1.35 trillion tax cut bill
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| Contributor | Jason |
| Last Edited | Jason Aug 19, 2011 07:23pm |
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| Category | Event |
| News Date | Friday, June 8, 2001 01:00:00 AM UTC0:0 |
| Description | WASHINGTON -- In a White House victory celebration, President Bush signed the nation's first significant tax cut in a generation yesterday, calling it the first achievement for a "new tone in Washington."
He promised American families rebate checks -- generally $600 for couples, $500 for single parents and $300 for individual taxpayers -- in time to help with September school bills.
Others, however, were talking about when and how the new law may be changed.
Tax relief was a central theme of Bush's campaign for the presidency. Just 139 days into his term of office, he signed only the third across-the-board tax cut since President Kennedy's in the early 1960s and President Reagan's in the 1980s.
Most of the $1.35 trillion tax cut takes effect slowly over the next decade. House Majority Leader Dick Armey, R-Texas, is already lobbying to have the provisions in the tax-cut law made permanent so they don't expire, as required, on Dec. 31, 2010. |
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