Post 9/11 stimulus package, reduced top marginal income tax rate, lowered income tax rates for all brackets, increased child tax credit, reduced marriage penalty, phased out estate tax (later expired).

Significance

• Largest tax cut in US history at the time, aimed at stimulating economy post-9/11.
• Increased budget deficit
• Cut Tax rates across all brackets
• Reduced Estate, and Capital Gains Taxes
• Increased deduction for Married filers, and Increased Child and Earned Income Credits