Bush Signs $70-Billion Tax-Cut Bill Into Law
- Share via
President Bush signed a $70-billion tax-cut bill.
“With this bill, we’re sending the American people a clear message about our policy,” Bush said. “We’re going to continue to trust the American people with their own money.”
Democrats overwhelmingly opposed the legislation, saying the tax cuts on capital gains and dividends would flow mostly to the rich. The legislation provides a two-year extension of the reduced 15% tax rate for capital gains and dividends; it was to expire at the end of 2008.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
More From the Los Angeles Times
Podcasts
In this episode, we discuss the history here, what lessons were learned — and not — and how that can inform what we we do this time around as we attempt to rebuild Altadena and the Pacific Palisades.
This week’s episode covers the sentencing and future legal proceedings for “The Ketamine Queen” — the doctor who pled guilty to supplying Matthew Perry with ketamine.
This week, “A Matter of Degrees,” hosted by Dr. Leah Stokes & Dr. Katharine Wilkinson, discuss how insurance companies are failing to accommodate for the impacts of climate change.
