EGTRRA (Bush Tax Cuts I)
Economic Growth and Tax Relief Reconciliation Act of 2001
§ LEGISLATIONtax· 2001
What It Did
Cut income tax rates across all brackets, created the 10% bracket, doubled the child tax credit, reduced the marriage penalty, and phased out the estate tax. All provisions were set to sunset after 2010. Passed through budget reconciliation with a projected 10-year cost of $1.35 trillion.
The Vote
House · 240–154 (conference report)
D
28 YEA · 153 NAY
R
211 YEA · 0 NAY
Senate · 58–33 (conference report)
D
12 YEA · 31 NAY
R
46 YEA · 2 NAY
Key Sponsors
→ Bill Thomas (R-CA) · House
→ Charles Grassley (R-IA) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Gini Index (Inequality)
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Real Median Household Income
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Corporate Profits After Tax
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.