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Tax Cuts

by: Stephanie Elliott

Tax Cuts POL407

Stephanie Elliott
GPA 3.48
Congress and American Politics
Elizabeth Palmer

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About this Document

notes how tax cuts occur
Congress and American Politics
Elizabeth Palmer
Class Notes
25 ?




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This 1 page Class Notes was uploaded by Stephanie Elliott on Thursday October 8, 2015. The Class Notes belongs to POL407 at a university taught by Elizabeth Palmer in Fall. Since its upload, it has received 77 views.

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Date Created: 10/08/15
11212014 Tax Cuts o 2001 before 911 0 jim jefferts left the republican party become an independent caucus with the democrats 0 they would then control the chamber changes from republican to democrat o wasn t going to switch parties until the tax cut bill became law 0 got 135 billion by May 0 had sunsets o if you went to 11 years in the counting every thing comes to accumulate o debt became huge o sunsetted the bill after 10 years didn t truly occur in practice 0 Obama renewed the tax cuts most of them 0 2003 0 economy is in a very bad place 0 Bush proposes a tax cut Cut the amount of money that you are taxed on capital gains stock market etc Wanted 760 billion to do it a House approved 550 billion a Senate cut it to 350 billion dollars a Conference max of 550 min of 350 0 Middle controlled what was going on middle does not exist anymore scoring 0 if this bill were to be enacted this is how much it would cost bring into the treasury the nancial obligations of any proposal 0 10 year time frame rule 14 you can bypass committee action reconciliation prohibits libusters o no limiting of germane amendments 0 can keep this process going as long as you want to 0 not part of debate time


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