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Dec 17, President Obama, joined by Vice President Biden, speaks before signing a compromise bill that extends the Bush-era tax cuts for all Americans, December 17, CBSEstimated Reading Time: 5 mins. Dec 08, Obama Extends Bush Tax Cuts. The deal the President struck with Republican leaders is an abomination. It will costbillion over the next two years - larger than the bailout of Wall Street Reviews: 6. Dec 06, President Obama announced a wall street journal 2008 obama extends bush era tax cuts"framework" with Republicans that would extend all Bush-era tax cuts for two years, keep the dividend and capital gains tax at 15 percent and temporarily cut Estimated Reading Time: 6 mins.

The Bush tax cuts (along with some Obama tax cuts) were responsible for just 24 percent. The New York Times stated in an editorial that the full Bush-era tax cuts were the single biggest contributor to the deficit over the past decade, reducing revenues by abouttrillion between and Jul 09, Obama signed a bill in to extend the Bush-era tax cuts, citing the need for economic stimulus at the time, but has since vowed he would not permit another extension.