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Bush had vowed to cut taxes during his presidential campaign in

Mar 14, The Bush tax cuts were a series of temporary income tax relief measures enacted by President George W. Bush in and They occurred through two pieces of legislation: the Economic Growth.

Jan 24, The Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent. The New York Times stated in an editorial that the full Bush-era tax cuts were the single biggest contributor to the deficit over the past decade, reducing revenues by Estimated Reading Time: 12 mins.

In addition, the law immediately cut the top marginal capital gains tax rate for assets held more than a year from 20 percent to 15 percent and the bottom long-term capital gains rates from 8 and 10 percent to 5 percent (and eventually to 0 by ). 3.