President feels uncomfortable with the slow approval of the legislative body for the amendment of the Tax Code because he would need additional funds for the payment of the vaccines due to the pandemic. He then issued an Executive Order increasing the income tax rates 1% per bracket. Is the Executive Order valid? A. Yes, the Executive Order is valid because the increase is merely a collection of tax which is executive in order. B. No, the Executive Order is invalid because the 1% increase in income tax rates is inherently legislative. C. Yes, the Executive Order is valid because there is a national emergency. D. No, the Executive Order should be approved by Congress first
President feels uncomfortable with the slow approval of the legislative body for the amendment of the Tax Code because he would need additional funds for the payment of the vaccines due to the pandemic. He then issued an Executive Order increasing the income tax rates 1% per bracket. Is the Executive Order valid? A. Yes, the Executive Order is valid because the increase is merely a collection of tax which is executive in order. B. No, the Executive Order is invalid because the 1% increase in income tax rates is inherently legislative. C. Yes, the Executive Order is valid because there is a national emergency. D. No, the Executive Order should be approved by Congress first
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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President feels uncomfortable with the slow approval of the legislative body for the amendment of the Tax Code because he would need additional funds for the payment of the vaccines due to the pandemic. He then issued an Executive Order increasing the income tax rates 1% per bracket. Is the Executive Order valid?
A. Yes, the Executive Order is valid because the increase is merely a collection of tax which is executive in order.
B. No, the Executive Order is invalid because the 1% increase in income tax rates is inherently legislative.
C. Yes, the Executive Order is valid because there is a national emergency.
D. No, the Executive Order should be approved by Congress first
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