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An Updated Analysis of the 2008 Presidential Candidates' Tax Plans: Executive Summary

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Publication Date: July 2008

Publisher(s): Tax Policy Center

Author(s): Roberton Williams; Howard Gleckman

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Taxation and tax policy)

Keywords: Tax Policy; Taxes, the Budget, and the Economy; Budget Issues; General Tax Policy

Type: Report


Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next ten years, according to an updated analysis by the non-partisan Tax Policy Center. Compared to current law, TPC estimates the Obama plan would cut taxes by $2.8 trillion from 2009-2018. McCain would reduce taxes by nearly $4.2 trillion. Under current law, the 2001 and 2003 tax cuts would expire in 2010 and the Alternative Minimum Tax would remain in full force.