Answer: The top item on Bush’s wish list was a tax cut intended to stimulate the sagging economy.
Explanation:
George W. Bush arrived in the White House to confront a sputtering economy and a falling stock market. Consumer confidence and capital investment plummeted with the falling stock market. By March 2001, the economy was in recession for the first time in over a decade. By cutting taxes, however, federal revenue diminished, thus increasing the budget deficit. It also shifted more of the tax burden from the rich to the middle and working classes and increased already high levels of income inequality.
