KeithHennessey.com

The President has arrived in London for the G-20 economic summit.  I have different policy views than the President on some of these issues, but I will not criticize him while he is overseas.  I will attempt to gently highlight a couple of substantive issues that concern me, but at the same time I want [...]

About Keith Hennessey
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About Keith Hennessey

I served as the senior White House economic advisor to President George W. Bush.  My job was to coordinate economic policy for the President, including macroeconomic issues, financial markets and institutions, tax [...]

2001
What: H.R. 1836, The Economic Growth And Tax Relief Reconciliation Act Of 2001
When: Signed into law June 7, 2001
Effects: Cut marginal income tax rates, created a new 10% bracket, provided marriage penalty relief, put death tax on path to extinction, repealed pease and pep, increased the child tax credit, increased contribution and deferral limits on [...]

We are frequently asked whether there should be a “second stimulus” bill.  Unfortunately, what is being considered on Capitol Hill is a very different animal from what we did earlier this year.

10-second macroeconomic review
GDP    = Consumption + Investment + Government spending + Exports – Imports
= C + I + G + X – M

In January [...]

About three hours ago, the President signed into law H.R. 5140, The Economic Stimulus Act of 2008 , less than four weeks after he first proposed Congressional action.
We are enormously pleased with this rapid and bipartisan legislative success.  The final bill passed the House 380-34, and the Senate 81-16.  Here is a one-page summary of [...]