During his presidential campaign.

Jun 07, While the Bush tax cuts are no longer a hot political issue, it is worth remembering that the future of the cuts occupied the attention of the tax policy community for over a decade. Much of the bill has now been made into permanent law.

As the economy improved and job creation continued during his second term -, the Bush tax cuts were allowed to expire for the highest income taxpayers and a spending sequester cap was implemented, to further reduce the deficit back to typical historical levels.

The “fiscal cliff” deal cemented the vast majority of the 20Bush tax cuts into permanent bushcutting.buzzted Reading Time: 7 mins. Dec 31, The phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W.

Bush and extended during the presidency of Barack Obama, through:Economic Growth and Tax Relief Reconciliation Act of (EGTRRA)Jobs and Growth Tax Relief Reconciliation Act of (JGTRRA)Tax Relief. Aug 14, At this point, what should very much concern those with a classical or supply-side bent is that the tax cuts will be discredited by an Obama Treasury vying with those of Bush.