Line Item Description of the Final House Budget

House Budget
2007
2008
2009
2010
2011
2012
2008-2012
2008-2017
Tax Cuts If Made Permanent, OMB
               
   

Marginal Individual Income Tax Rate Reductions
0
0
0
0
71,892
113,251
185,143
793,780
  

Capital Gains 15/0 tax rate
0
0
0
3,405
17,477
7,269
28,151
79,059
   

Dividends 15/0 tax rate
-344
-683
-695
3,595
13,789
-1,491
14,171
89,973
   

Small Business Expensing
0
0
0
-3,728
4,947
3,376
4,595
20,158
   

Child Tax Credit (tax)
0
0
0
0
5,265
21,128
26,393
135,380
   

Marriage Penalty Relief (tax)
0
0
0
0
5,380
7,971
13,351
41,317
   

Education Tax Provisions
0
0
0
0
739
1,336
2,075
9,673
   

Estate Tax Repeal
156
1,373
2,290
3,067
26,845
57,652
91,383
422,490
  

AMT Patch1
0
55,300
52,800
60,700
50,500
30,500
249,800
492,000
   

Other Provisions
0
0
0
-6
179
866
1,039
5,341
Total Tax Reduction
-188
55,990
54,395
67,033
197,013
241,858
616,101
2,089,171
                 
Outlay Effects 2
               
  

Child Tax Credit Extension
0
0
0
0
46
11,937
11,983
70,652
   

EITC: Marriage Penalty Relief
0
0
0
0
-366
1,623
1,257
8,966
Total Outlays
0
0
0
0
-320
13,560
13,240
79,618
                 
Total Relief Threatened By Expiration 3
-188
55,990
54,395
67,033
197,333
228,298
602,861
2,168,789

1 AMT assumes a one-year patch for 2007and thereafter the patch is made permanent (not indexed), Source: JCT, CBO
2 Refundable portions of child tax credt and EITC component of marriage penalty are considered spending.
3 Total Relief is the tax cut permanency cost and the refundable spending combined. Taxpayers are set to lose $2.17 Trillion if tax cuts expire.
Source: Office of Management and Budget, Joint Committee on Taxation, Congressional Budget Office, Americans for Tax Reform