Number: RS20819 Title: President Bush's Tax Proposal: A Brief Overview Authors: David L. Brumbaugh, Government and Finance Division Abstract: On February 8, 2001, President Bush sent to Congress the outlines of a proposal to cut taxes by an estimated $1.6 trillion over 10 years. A conference committee version of the tax cuts (H.R. 1836) was approved by the House and Senate on May 26; it was signed into law on June 7 and became P.L. 107-16, the Economic Growth and Tax Relief Reconciliation Act of 2001. Pages: 6 Date: Updated June 21, 2001