Economic Growth and Tax Relief Reconciliation Act of 2001

E892435

United States federal statute tax cut law

The Economic Growth and Tax Relief Reconciliation Act of 2001 was a major U.S. federal law that substantially reduced income, estate, and other taxes, forming the core of President George W. Bush’s early tax-cut agenda.

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All labels observed (1)

Label	Occurrences
Economic Growth and Tax Relief Reconciliation Act of 2001 canonical	2

Statements (48)

Predicate	Object
instanceOf	United States federal statute ⓘ tax cut law ⓘ
aimedTo	reduce estate taxes ⓘ reduce federal income taxes ⓘ reduce gift taxes ⓘ reduce marriage penalty ⓘ stimulate economic growth ⓘ
alsoKnownAs	2001 Bush tax cuts NERFINISHED ⓘ
appliesTo	estates subject to federal estate tax ⓘ individual income taxpayers in the United States ⓘ
chamberInvolved	United States House of Representatives ⓘ United States Senate ⓘ
containsProvision	across-the-board reductions in individual income tax rates ⓘ changes to retirement savings contribution limits ⓘ creation of a new 10 percent income tax bracket ⓘ expansion of tax-favored education savings accounts ⓘ gradual reduction of top marginal income tax rates ⓘ increase in child tax credit ⓘ increase in estate tax exemption ⓘ introduction of catch-up contributions for retirement accounts ⓘ marriage penalty relief ⓘ phased-in repeal of federal estate tax ⓘ temporary nature of tax cuts with sunset date ⓘ
coreOf	George W. Bush early tax-cut agenda ⓘ
country	United States of America ⓘ surface form: United States
criticizedFor	increasing federal budget deficits ⓘ providing disproportionate benefits to higher-income taxpayers ⓘ
dateSigned	2001-06-07 ⓘ
effectiveFrom	tax year 2001 ⓘ
enactedBy	107th United States Congress NERFINISHED ⓘ
ideologicalOrientation	supply-side economics ⓘ
influencedBy	2000 United States presidential election campaign promises of George W. Bush NERFINISHED ⓘ
legalMechanism	budget reconciliation NERFINISHED ⓘ
legislativeSession	First session of the 107th United States Congress NERFINISHED ⓘ
longTitleIncludes	An Act to provide for reconciliation pursuant to section 104 of the concurrent resolution on the budget for fiscal year 2002 ⓘ
opposedBy	many Democratic lawmakers ⓘ
partyOfPresidentAtSigning	Republican Party NERFINISHED ⓘ
presidentAtSigning	George W. Bush NERFINISHED ⓘ
primaryPolicyArea	fiscal policy ⓘ taxation ⓘ
publicLawNumber	Public Law 107-16 NERFINISHED ⓘ
relatedTo	Jobs and Growth Tax Relief Reconciliation Act of 2003 NERFINISHED ⓘ
shortName	EGTRRA NERFINISHED ⓘ
signedBy	George W. Bush ⓘ
subjectOf	economic and fiscal policy debates in the 2000s ⓘ
sunsetDate	2010-12-31 ⓘ
supportedBy	Republican Party NERFINISHED ⓘ
yearEnacted	2001 ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Bush administration → notableLegislation → Economic Growth and Tax Relief Reconciliation Act of 2001 ⓘ

Additional Child Tax Credit → modifiedBy → Economic Growth and Tax Relief Reconciliation Act of 2001 ⓘ