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Major Tax Issues in the 107th Congress (CRS Report for Congress)

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Release Date Revised Jan. 28, 2003
Report Number IB10068
Authors David L. Brumbaugh, Government and Finance Division
Source Agency Congressional Research Service
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Summary:

Tax cuts were a prominent issue in the 107th Congress. The Economic Growth and Tax Relief Reconciliation Act of 2001 was passed by congress and signed by President Bush on June 7, 2001. It became P.L. 107-16. Following the terrorist attacks of September 11 and amid continued concerns about the sluggish economy, policymakers in Congress and the Administration began deliberating the possibility of a tax cut to provide economic stimulus. During the spring of 2002, the House passed several bills aimed at repealing the sunset provisions of the 2001 tax cut, but the bills were not approved by the Senate. Congress adjourned for the year without passing additional major tax legislation.
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