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The bill would have also retained tax credits including the child tax credit but would propose ending the current payroll-tax cut. [70] The Democratic-majority Senate was in favor of extending the tax cuts only on that portion of household income below $250,000 per year. [71] [72]
The Senate passed the Inflation Reduction Act on August 7, 2022, on a 51–50 vote, with a tie-breaking vote from Vice President Kamala Harris, [80] returning the amended bill to the House. On August 12, the House passed the bill on a 220–207 vote, [ 81 ] and President Biden signed it into law on August 16.
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
The Economic Stimulus Appropriations Act of 1977 was a stimulus package enacted by the 95th United States Congress and signed into law by President Jimmy Carter on 13 May 1977. The Economic Stimulus Act of 2008, signed on February 13, 2008 by President George W. Bush, was intended to boost the United States economy in 2008.
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. Tooltip Public Law (United States) 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.
The Act provided gible financial incentives (tax credits) for average homeowners to make environmentally positive changes to their homes. It made improvements to home energy use more affordable for walls, doors, windows, roofs, water heaters, etc. Consumer spending, and hence the national economy, was abetted.
It also contained numerous tax credits for agricultural and business institutions as well as the repeal of excise taxes on both fuel and alcohol and the creation of tax credits for biofuels. The bill was introduced by Representative Bill Thomas on June 4, 2004, passed the House June 17, the Senate on July 15, and was signed by President George ...
"Alice M. Rivlin, who served as a deputy director of the Office of Management and Budget under Bill Clinton, said that GLB was a necessary piece of legislation because the separation of investment and commercial banking 'wasn't working very well.'" Bill Clinton stated (in 2008): "I don't see that signing that bill had anything to do with the ...