Clinton Tax Policy

Secretary of the Treasury Lloyd Bentsen today briefed the media and took questions on the deficit reduction plan and its impact on… read more

Secretary of the Treasury Lloyd Bentsen today briefed the media and took questions on the deficit reduction plan and its impact on taxes. Bentsen indicated that the deficit reduction plan includes $255 billion in cuts and just under $250 billion in higher revenues. The plan calls for cuts in entitlements, a “slight” increase in the corporate income tax, and a “small” gasoline tax. As for the individual income tax rate, Bentsen stressed, “We only changed the very top rate.” For individuals with an adjusted gross income of more than $180,000, the rate increased from 31 to 36 percent. For those with an adjusted gross income of over $300,000, the rate increased from 31 to 39.6 percent. Bentsen emphasized that 98.8 percent of all taxpayers experienced no increase in the income tax rates this year. close

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Clinton Tax Policy

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Program ID:
55996-1
Category:
News Conference
Format:
News Conference
Location:
Briefing Room, White House, Washington, District of Columbia, United States
First Aired:
Apr 12, 1994
Last Aired:
Apr 13, 1994

Airing Details

  • Apr 12, 1994 | 11:05pm EDT | C-SPAN 1
  • Apr 13, 1994 | 2:27am EDT | C-SPAN 1
  • Apr 13, 1994 | 6:26am EDT | C-SPAN 1
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