 By the end of the G. H. W. Bush administration in 1992, the number of income tax brackets had reached an all-time low of three but President Bill Clinton oversaw a reconfiguration of the brackets that increased the number to five in 1993.The current number of income tax brackets, as of 2011, is six which is the number of brackets configured under President George W. Bush.The NYT reported in July 2018 that