Kennedy tax cut

E750144

The Kennedy tax cut refers to the major early-1960s U.S. income tax reduction championed by President John F. Kennedy and enacted in 1964 to stimulate economic growth.

All labels observed (1)

Label Occurrences
Kennedy tax cut canonical 2

How this entity was disambiguated

Statements (47)

Predicate Object
instanceOf United States federal tax policy ⓘ
tax cut ⓘ
alsoKnownAs Revenue Act of 1964 ⓘ
appliesTo federal corporate income tax ⓘ
federal individual income tax ⓘ
appliesToJurisdiction United States federal government ⓘ
associatedWithPoliticalParty Democratic Party (United States) ⓘ
linked to: Democratic Party
completedByAdministration Johnson administration ⓘ
country United States ⓘ
effectiveInTaxYear 1964 ⓘ
effectOn decline in U.S. unemployment rate in mid‑1960s ⓘ
increased real GDP growth in mid‑1960s ⓘ
short‑run reduction in federal tax revenues relative to baseline ⓘ
enactedUnderPresident Lyndon B. Johnson ⓘ
enactmentDate 1964 ⓘ
federalLawIn United States ⓘ
followedBy period of strong U.S. economic growth in the mid‑1960s ⓘ
hasCause desire to stimulate economic growth ⓘ
hasMainProponent John F. Kennedy ⓘ
hasPurpose economic stimulus ⓘ
increase employment ⓘ
raise long‑run economic growth ⓘ
hasTopic corporate taxation ⓘ
economic growth ⓘ
employment ⓘ
income tax ⓘ
implementedBy Internal Revenue Service ⓘ
influencedByTheory Keynesian economics ⓘ
demand‑side fiscal stimulus ⓘ
introduced larger standard deduction ⓘ
lower marginal tax rates across income brackets ⓘ
isSubjectOf economic policy debates on tax cuts and growth ⓘ
legalForm federal statute ⓘ
legislativeBody United States Congress ⓘ
longTermEffectOn expansion of federal tax base through higher incomes ⓘ
namedAfter John F. Kennedy ⓘ
partOf postwar U.S. fiscal policy history ⓘ
policyArea fiscal policy ⓘ
tax policy ⓘ
precededBy high postwar marginal tax rates ⓘ
reducedCorporateTaxRateFrom 52% ⓘ
reducedCorporateTaxRateTo 48% ⓘ
reducedTopMarginalIndividualRateFrom 91% ⓘ
reducedTopMarginalIndividualRateTo 70% ⓘ
sponsoredByAdministration Kennedy administration ⓘ
startTime 1961 ⓘ
timePeriod early 1960s ⓘ

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Revenue Act of 1964 → alsoKnownAs → Kennedy tax cut ⓘ
Public Law 88-272 → alsoKnownAs → Kennedy tax cut ⓘ