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But leading Democrats say the president is backing down and.

Nov 23, It extended the Bush tax cuts through and unemployment benefits through It cut payroll taxes by 2 percentage points, addingbillion to workers' spendable income. It extended a college tuition tax credit.

It also included 58 billion in industry-specific tax cuts. Obama’s deal revived the inheritance tax that had been eliminated inbut had Estimated Reading Time: 8 mins.

The government can increase rates until a certain point-represented by the peak of the curve-and still increase revenues.

Dec 17, Obama Signs Bill To Extend Bush Tax Cuts. By Brian Montopoli December 17, / PM / CBS News President Barack Obama, center seated, smiles after signing thebillion tax deal into law Estimated Reading Time: 5 mins. Feb 28, Obama had pledged to allow the Bush tax cuts to expire for those making more than, a year. The Tea Party said this would stifle job creation by hurting the small business owners who create 60% of all new jobs.

Jun 07, However, when the cuts were finally due to expire inPresident Obama extended the cuts for yet another two years, seeking to avert a sudden and dramatic tax increase on American families in the middle of an economic recovery. As a result, the future of the Bush tax cuts became a major campaign issue in as bushfall.buzzted Reading Time: 7 mins.

Obama signed a bill in to extend all of the Bush-era tax cuts until the end of, citing the need for economic stimulus at the time.

Jan 03, the increase in the cost of “patching” the Alternative Minimum Tax (AMT), caused by the other Bush tax cuts, to ensure that more middle-income taxpayers are not subject to the AMT.

The other Bush tax cuts threw more taxpayers onto the AMT. That increased the cost of indexing the AMT parameters for inflation. (Otherwise, the AMT would have cancelled out Estimated Reading Time: 4 mins. Dec 06, President Obama announced a broad"framework" with Republicans that would extend all Bush-era tax cuts for two years, keep the dividend and capital gains tax at 15 percent and temporarily cut.