One of president clinton’s early strategies for improving the economy decreasing taxes. increasing government spending. increasing taxes. increasing the overall deficit.

One of President Clinton’s early strategies for improving the economy was increasing taxes.

As an attempt to reduce the budget deficit of the U.S., President Clinton enacted the Omnibus Budget Reconciliation Act of 1993, a few months after he was inaugurated.

This first Act established measures to cut spending and increase taxes, for example, the legislation increased the marginal tax rate for incomes of over $180,000 annually, from 31 to 36%, and for those earning over $250,000 it added 10% more. It also increased the corporate income tax from 34 to 36% for those with incomes over $10 million. It ended subsidies to some corporations and it taxed on Social Security benefits for high-income earners.

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