Line Item Description of Tax Increases in the House of Representatives\’ Budget
- AMT assumes a one-year patch for 2007and thereafter the patch is made permanent (not indexed), Source: JCT, CBO
- Refundable portions of child tax credt and EITC component of marriage penalty are considered spending.
- 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