President  |  Vice President  |  First Lady  |  Mrs. Cheney  |  News & Policies 
History & ToursKids  |  Your Government  |  Appointments  |  JobsContactGraphic version

Email Updates  |  Español  |  Accessibility  |  Search  |  Privacy Policy  |  Help

Email this page to a friend

President George W. Bush addresses folks at a General Mills plant in Cedar Rapids, Iowa, Monday, April 15. Taking to the podium on tax day, the President discussed last year's tax cut that and stated that such cuts for the American people should be permanent.

  • President Calls on Congress to Make Tax Relief Permanent
  • Treasury Releases First in Series of Tax Simplification Proposals
  • President Unveils Small Business Plan at Women's Entrepreneurship Summit
  • President Emphasizes Job Creation in Economic Recovery
  • President Signs Stimulus Bill During Live Radio Address
  • President Discusses War & Economy with Reporters
  • President Emphasizes Need for Economic Stimulus
  • June 2001 Economic Growth & Tax Relief Act

  • President Bush Calls on Congress to Make Tax Relief Permanent

    Today's Presidential Action

    • President Bush traveled to Cedar Rapids, Iowa, to visit with workers who are benefiting from the tax relief plan proposed by the President and passed by the Congress. The Economic Growth and Tax Relief Reconciliation Act of 2001 that President Bush signed into law provides a tax cut for all families who pay Federal income taxes - helping to strengthen our economy by giving Americans more money to spend.

    • President Bush also called on Congress to make his tax relief plan permanent - to ensure that Americans can make long-term plans when saving for their children's education, when planning for retirement and when planning to pass their assets on to their children.

    Background on Tax Relief

    • When President Bush's tax relief plan is fully phased-in:
    • Over 100 million individuals and families will pay lower taxes;
    • 43 million married couples will see their taxes reduced on average by more than $1,700 a year;
    • 38 million families with children will receive an average tax cut of almost $1,500;
    • 11 million single mothers with children will be able to keep, on average, $770 more of their income to care for their children;
    • 13 million seniors will see their taxes reduced, on average, by $920;
    • 3.9 million taxpayers, including 3 million taxpayers with children, will have their income tax liability completed eliminated by the President's tax cut; and
    • Small business owners and entrepreneurs will receive 79% of the tax relief associated with reducing the top income tax rates to 33% and 35%. And, nearly 75% (22.6 million) of the 30.5 million taxpayers with income from flow-through entities (e.g., owners of sole proprietorships, farm proprietorships, partnerships, S corporations and taxpayers with rental income) will receive a tax reduction.

    Email this page to a friend

    Issues Budget Management Education Energy Health Care Homeland Security Hurricane Recovery Immigration Jobs & Economy Medicare National Security Pandemic Flu Patriot Act Renewal in Iraq Social Security More Issues »   |   News Current News Press Briefings Proclamations   |   Executive Orders   |   Radio   |   Appointments   |   Nominations Application   |   Offices   |   Freedom Corps   |   Faith-Based & Community   |   OMB   |   More Offices   |   Major Speeches   |   Iraq Transition   |   State of the Union   |   Saddam Capture   |   UN Address   |   National Address   |   Iraqi Freedom   |   National Address