president bush's tax cut

Bush calls for $550 billion in tax cuts
On Wednesday, April 16, 2003 President Bush used the backdrop of tax day to urge congress to pass his $550 billion or more in tax cuts that he says will jumpstart our economy. The tax cuts he proposed would create 1.4 million jobs by the end of 2004. The proposal bush announced was designed to attack specific weaknesses that were slowing down our economy and kept companies from hiring new workers. Bush’s first tax cut proposal was for $726 billion in tax cuts half of which would come from the elimination of taxes paid by shareholders on corporate dividends. The republican controlled Congress minimized Bush’s tax cut to $550 billion in new cuts, while a senate proposal would limit the package to $350 billion. In speaking to small business owners on tax day he acknowledged for the first time that his original full proposal was no longer on the table. Bush urged congress to avoid putting arbitrary limits on the tax bill, which he say...