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The top marginal tax rate on income of 39.6%, provided for under the expiration of the 2001 portion of the Bush tax cuts, was retained. This was an increase from the 2003–2012 rate of 35%. [3] The top marginal tax rate on long-term capital gains of 20%, provided for under the expiration of the 2003 portion of the Bush tax cuts, was retained.
The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub. L. 111–5 (text)), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.
Obama presents his first weekly address as President of the United States on January 24, 2009, discussing the American Recovery and Reinvestment Act of 2009 Job Growth by U.S. president, measured as cumulative percentage change from month after inauguration to end of term. 2016 was the first year U.S. real (inflation-adjusted) median household income surpassed 1999 levels.
President Obama was first inaugurated in January 2009, in the depths of the Great Recession and a severe financial crisis that began in 2007. His presidency continued the banking bailout and auto industry rescue begun by the George W. Bush administration and immediately enacted an $800 billion stimulus program, the American Recovery and Reinvestment Act of 2009 (ARRA), which included a blend ...
O'Rourke unveiled a plan for military veterans, in which taxpayers who earn over $200K a year would pay $1K in tax for each war embarked on by the U.S.
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. 111–312 (text), H.R. 4853, 124 Stat. 3296, enacted December 17, 2010), also known as the 2010 Tax Relief Act, was passed by the United States Congress on December 16, 2010, and signed into law by President Barack Obama on December 17, 2010.
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis.The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.
The Obama administration had proposed that the tax cuts would be allowed to expire only for individuals earning over $200,000 and families earning over $250,000. However, in December 2010 Congress along with President Obama struck a deal, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 , to extend the said ...