Economic Growth Tax Relief Reconciliation Act (EGTRRA)

Definition

Passed by Congress in 2001, this act was one of the Bush-era tax cuts designed to stimulate the U.S. economy following the bursting of the Internet bubble and subsequent recession. The EGTRRA introduced changes to the tax code such as; removing the so-called "marriage penalty", creating a new 10% tax bracket for earners making less than $6000 per year, and increasing the per-child tax credit. When the EGTRRA was passed, a provision was written in that called for expiration or "sun-setting" of the act at midnight on December 31st, 2010. As of 2011, Congress is considering extending certain provisions of EGTRRA.

单词	Economic Growth Tax Relief Reconciliation Act (EGTRRA)
释义	Economic Growth Tax Relief Reconciliation Act (EGTRRA) Definition Passed by Congress in 2001, this act was one of the Bush-era tax cuts designed to stimulate the U.S. economy following the bursting of the Internet bubble and subsequent recession. The EGTRRA introduced changes to the tax code such as; removing the so-called "marriage penalty", creating a new 10% tax bracket for earners making less than $6000 per year, and increasing the per-child tax credit. When the EGTRRA was passed, a provision was written in that called for expiration or "sun-setting" of the act at midnight on December 31st, 2010. As of 2011, Congress is considering extending certain provisions of EGTRRA.
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