Tax Relief Act

The Tax Relief Act refers to legislation aimed at reducing the amount of taxes owed by individuals and businesses. These laws often include tax cuts, credits, and deductions that help lessen financial burdens. The goal is to stimulate economic growth by increasing individuals' disposable income and encouraging spending and investment. Such acts can target specific groups, like families or small businesses, or apply broadly, aiming to enhance overall economic activity. Understanding the specific provisions of any Tax Relief Act is crucial, as they can vary widely depending on the economic context and governmental priorities.