It would be easy to assume that President George W. Bush cut taxes more in his first term. If you had to guess whether President George W. Bush or President Barack Obama cut taxes more in his first term, which one would you choose? Probably President Bush, right? After all, the the Bush tax cuts were massive. And President Obama is the one calling for the expiration of some of those tax cuts. Hes also pushing for more revenue as we try to address our long-term fiscal imbalance. Given all that, you could be forgiven for guessing that President Bush is the bigger tax cutter. But youd actually be wrong. By the end of his first term, President Obama will have signed into law a series of tax cuts that, taken together, exceed the value of those signed into law by President Bush. President Obamas tax cuts versus President Bushs tax cuts President Bush enacted his tax cuts in 2001 and 2003, and over their 10-year lifespan, they reduced tax revenues by around $2.4 trillion, with $474 billion of that coming in the first four years. The first-term impact of those tax cuts is equivalent to about $574 billion in todays dollars, or about 1.1 percent of gross domestic product. Obama vs. Bush: Who?s the Bigger Tax Cutter?