President of the U.S., 1989-1993; Former Republican Rep. (TX)
1992 growth plan: deregulate & cut taxes
Bush’s 1992 State of the Union address offered a plan for economic growth that called for a moratorium on new government regulations on business, a cut in the capital gains tax, and the elimination of numerous domestic programs he deemed undeserving of
federal funding. He also endorsed a health-insurance tax credit for poor families and a tax credit for first-time home buyers. Congress adopted some of his proposals, but Bush vetoed the final bill because it raised taxes on the wealthy.
Source: Grolier Encyclopedia on-line, “The Presidency”
Dec 25, 2000
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