Bush Tax Cuts

Americans for Tax Fairness played a major role in fighting to repeal the Bush tax cuts on the wealthiest Americans, which were passed in 2001 and 2003 and reduced top individual income tax rates and taxes on dividends and capital gains.

Early in 2013, Congress passed legislation that renewed the Bush tax cuts for all households EXCEPT those making more than $450,000 a year, requiring the top 1 percent of Americans to pay an amount closer to their fair share of taxes. This was the first major new tax increase in a generation, and it was successful because of grassroots pressure from around the country. It will raise $620 billion over 10 years.

But much more is needed to make sure that the richest 2 percent — those households making above $250,000 a year — are contributing their fair share of taxes.


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Tax cuts signed into law by President George W. Bush in 2001 and 2003, which disproportionately benefit the richest 2 percent, will expire at the end of 2012.

The fiscal-cliff tax deal passed by Congress in early January was only a first step toward ensuring that the richest Americans pay their fair share of taxes.

The fiscal-cliff tax deal passed by Congress in early January was only a first step toward ensuring that the richest Americans pay their fair share of taxes.

There is a push in Washington to reduce the federal deficit by $4 trillion over the next 10 years.

 

Click here for Archived Bush Tax Cut Resources