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Inside Politics

Economy: Key dates

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(CNN) -- Some key dates surrounding the economy issue:

January 14, 2000: The Dow Jones Industrial Average closes at an all-time high of 11,722.

June 7, 2001: President Bush signs a $1.35 trillion tax cut plan into law, fulfilling a major campaign promise.

July 23, 2001: The first "rebate" checks required under the new tax law are sent to taxpayers in amounts ranging from $300 to $600.

December 2, 2001: Enron files for bankruptcy, the first of several high-profile corporate scandals.

May 28, 2003: President Bush signs a $350 billion tax cut plan into law, lowering the "marriage penalty," cutting capital gains taxes, and significantly reducing taxes on dividends. Vice President Cheney casts the tie-breaking vote in the Senate.

February 2005: The federal trade deficit hits an all-time high.

August 2, 2005: President Bush signs the Central American Free Trade Agreement (CAFTA) into law.

January 31, 2006: Alan Greenspan retires after 18 years as chairman of the Federal Reserve. Ben Bernanke is sworn-in to replace him the next day.

May 17, 2006: Bush signs a $70 billion extension of his 2003 tax-cut plan.

July 10, 2006: Henry Paulson is sworn-in as the 74th Treasury secretary, replacing John Snow.

August 3, 2006: The Senate rejects a bill that would have reduced estate taxes as well as increased the minimum wage from $5.15 to $7.25 per hour.

August 8, 2006: The Federal Reserve decides not to raise the federal funds rate for the first time since June 2004.

August 13, 2006: Gas prices reach an all-time high of $3.03 per gallon, according to the Lundberg survey.


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