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Extending the President’s Tax Cuts and AMT Relief Would Cost $4.4 Trillion Through 2018

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Publication Date: March 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Aviva Aron-Dine

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

Topic: Banking and finance (Taxation and tax policy)

Keywords: Economic projections; Tax code; Economic inequality; Income diversity

Type: Report

Abstract:

Despite the severe long-term budget shortfalls the nation faces, the Administration has not proposed measures to offset the cost of extending these tax cuts. Nor has it proposed measures to pay for extending relief from the Alternative Minimum Tax, which, if left unchanged, will affect increasing numbers of middle-income taxpayers and take back a substantial portion of the value of the 2001 and 2003 tax cuts