... from gpo.gov -- set the 'way-back dials' to 2001 please ...
Public Law 107-16
ECONOMIC GROWTH AND TAX RELIEF RECONCILIATION ACT OF 2001
[[Page 115 STAT. 38]]
Public Law 107-16
107th Congress
An Act
To provide for reconciliation pursuant to section 104 of the concurrent resolution on the budget for fiscal year 2002. {{NOTE: June 7, 2001 - [H.R. 1836]}}
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, {{NOTE: Economic Growth and Tax Relief Reconciliation Act of 2001.}}
[...]
TITLE IX--COMPLIANCE WITH CONGRESSIONAL BUDGET ACT
SUNSET OF PROVISIONS OF ACT. {{NOTE: 26 USC 1 note.}}
(a) In General.--All provisions of, and amendments made by, this Act shall not apply--
(1) to taxable, plan, or limitation years beginning after December 31, 2010, or
(2) in the case of title V, to estates of decedents dying, gifts made, or generation skipping transfers, after December 31, 2010.
(b) Application of Certain Laws. -- The Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 shall be applied and administered to years, estates, gifts, and transfers described in subsection (a) as if the provisions and amendments described in subsection (a) had never been enacted.
Approved June 7, 2001.
2010 SUNSET, it's the Law.
Fast forward to 2010 ... Here's the son of SUNSET Provision of the Bush Tax Cuts:
Bush tax cuts
From Wikipedia
The Bush tax cuts had sunset provisions that made them expire at the end of 2010, since otherwise they would fall under the Byrd Rule. Whether to renew the lowered rates, and how, became the subject of extended political debate, which was resolved during the presidency of Barack Obama by a two-year extension that was part of a larger tax and economic package, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
They'll end someday --
Just Trust us {cough, cough} ...
The GOP's Fiscal Time Bomb
by Howard Kurtz, thedailybeast.com -- Dec 2, 2010
George W. Bush set the trap just over nine years ago, and the Democrats are still trying to extricate themselves.
[...]
But in Washington, where anything beyond last week’s news cycle is considered ancient history, the jury-rigged nature of the Bush plan -- and the fiscal sleight-of-hand involved -- have been all but forgotten.
[...]
As an added bonus, the “sunset” provision, in Beltway-speak, was a political time bomb: At some point in the way distant future, Democrats could be accused of raising taxes if they tried to undo the Bush breaks and return to Clinton-era levels of taxation.
[...]
Sunset!? What Sunset? You didn't really
believe that, did you?
Sunset Provision -- wikipedia.org
One of the most notable characteristics of EGTRRA [The Economic Growth and Tax Relief Reconciliation Act of 2001] is that its provisions were designed to sunset, or revert to the provisions that were in effect before it was passed, on January 1, 2011. These provisions were extended for two years under the 2010 Tax Act. The sunset provision allowed EGTRRA to sidestep the Byrd Rule, a Senate rule that amends the Congressional Budget Act to allow Senators to block a piece of legislation if it purports a significant increase in the federal deficit beyond ten years. The sunset allowed the bill to stay within the letter of the PAYGO law while removing nearly $700 billion from amounts that would have triggered PAYGO sequestration.[4]
Promises, promises. The 1-Percenter Republicans know how to make promises -- they just don't know how to
keep them.
The 2% SUN only SETS -- when the GOP says so ... Nevermind whatever they agreed to back when -- Duh, that's Ancient History, in Congressional-years, don't you know?
And that dog don't hunt anymore, in Republican-land. It's just another empty GOP promise, among a long line of such broken pledges.