Foreword
In June 2001, Congress approved and President George W. Bush signed the Economic Growth and Tax Relief Reconciliation Act, providing for a $1.35 trillion tax cut, to be phased in over the next 10 years. The legislation closely resembles the tax cut plan then-Governor Bush put forth during the 2000 presidential race, when he campaigned on a platform linking high taxes with big government and reduced taxes with long-term economic growth. The Tax Relief Act’s principal components include a reduction in marginal individual income taxes, an increase in the child tax credit, a tax cut for married couples, and elimination…
