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No, not alone. Only congress can repeal the law or write new one. The president can recommend to congress what he wants. The president also can veto the law written by congress or agree and sign it. But it should be noted that President Obama wants to keep some of the Bush tax cuts-- for the middle class especially. But he feels the wealthy do not need another tax cut, when they have already gotten a number of them.
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∙ 11y ago
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Can Obama repeal tax cuts?
Presidents often try to implement tax cuts (Obama has cut taxes several times since he has been in office). But tax cuts generally cannot be repealed unless congress goes along with it.
What is President Obama unwilling to change his mind about?
Health care. Keeping Bush tax cuts. Tax cuts increase revenue to the government and stimulate the economy.
How much debt has Obama created?
The debt has grown about 25% during President Obama's administration, due mainly to the recession, the Bush tax cuts and two wars which Obama inherited.
Did the debt double under President Obamas administration?
It has increased about 25% under President Obama, due to, among other things, the recession, two [Bush] wars and the Bush tax cuts.
What compromises has Obama made?
In my view, his most damaging compromise was his agreement to retain the Bush tax cuts for households with adjusted gross incomes exceeding $250,000.
What is Barack Obama's opinion about taxes?
He says he wants to raise the income tax rate for very high income people. However, he did not veto the extension of the so-called Bush tax cuts when he had his chance.
Are the bush tax cuts going to expire?
not in the near future
Bush Tax cuts?
Across the board tax reduction that occurred during 2001 and 2003. Supporters of President Bush's actions said it gave a tax cut ("tax relief") to everyone who paid income taxes. Opponents noted it was highly unusual to give tax cuts during a war; that these cuts mainly helped the wealthy; and that the tax cuts contributed to a growing budget deficit. The tax cuts were scheduled to expire in 2010.
Did president obama or bush increase the deficit the most?
In 2001, the national debt Bush inherited was around $5.7T, give or take. When Bush left office in 2009, the debt was nearly $11T. That's an increase of 89 percent. Under Obama, the debt has increased from about $11T to about $15T, about 40 percent. And what's behind that increase? The Bush tax cuts for the 1% and the worst financial crash since the 1930s (Thank you Bush).
Which political party encourages tax cuts for all Americans?
OBAmA
What was the first thing president bush did as president?
The first major bill he approved of was the "2001 Bush Tax Cuts [HR 1836]." This is the the famous tax cuts for the rich policy that is being debated now.
What is Obama tax plan?
During his first term, he gave two tax cuts that mainly affected middle class Americans and small-business owners. In his second term, he wants to keep the Bush Tax Cuts for 98% of Americans, but allow the tax breaks for the wealthiest Americans (the top 2%) to expire, as he feels they can afford to pay a little bit more.
