They were raised. Bush raised tariffs on lumber and steel. Tariffs are federal taxes. Everything you buy that’s made of wood or steel costs more now. These taxes are huge compared to the puny cuts. In fairness - as you can see, I am making friends on all sides - not EVERYTHING that's made of wood and steel costs more now. Not if they're made in the U.S.A. Imposing some puny/tiny trariffs after noticing that certain nations were practicing dumping is one of the very few decisions W made that I agree with.
But... this topic too deserves its own thread.
So... for the record, I do support W imposing tariffs on foreign steel and wood. I wish he imposed more.
Not if they're made in the U.S.A.
Steel and wood cost more because domestic steel and wood don't have to compete with cheeper imports. Even if the item is made here and the material costs more either the customer pays more or the company makes less profit and their stock goes down.
Even if you agree that tariffs are a good way to tax how can you support raising taxes in a ressession?