Bush Administration Fiscal Policy
Report of the Council of Economic Advisers
With the enactment in 2001 of the Economic Growth and Tax Relief Reconciliation Act ("Tax Relief Act"), the President has laid a strong foundation for long-run growth. This tax relief has provided powerful stimulus for the future, with reductions in marginal tax rates that improve incentives and leave in the hands of Americans a greater share of their own money to spend on consumption, education, retirement investment, or whatever else they may prefer. The tax relief also has provided valuable stimulus to economic activity in the short run. The quick enactment last year of the President’s tax relief plan softened…
