What actions did Congress and the Bush administration take in response to the economy's sliding into recession in March 2001?

Question

Multiple select question.

Raising taxes by $44 billion in 2001

Scheduling $52 billion in tax cuts for 2002

Scheduling $52 billion in tax increases for 2002

Cutting taxes by $44 billion in 2001

Answer 1

In response to the economy sliding into recession in March 2001, the actions taken by Congress and the Bush administration included:

• Scheduling $52 billion in tax cuts for 2002
• Cutting taxes by $44 billion in 2001

The other options regarding tax increases were not aligned with the actions taken during that time, as the focus was on tax cuts to stimulate the economy.