| The Bush Tax Cuts, With & Without Adjustments to the Alternative Minimum Tax (AMT) | |||||
| $-billions | |||||
| First Five Years | Next Four Years | First Nine Years | Tenth year | TEN YEARS | |
| 2002-06 | 2007-10 | 2002-10 | 2011 | 2002-11 | |
| CTJ estimates of the Bush tax plan: | |||||
| Bush tax cuts with AMT rates reduced | $–511 | $ –1,020 | $ –1,531 | $ –306 | $ –1,837 |
| Increased interest on the national debt | +47 | +221 | +268 | +98 | +365 |
| Total cost with interest | $ 558 | $ 1,241 | $ 1,799 | $ 403 | $ 2,202 |
| Effects of not adjusting the AMT: | |||||
| Bush tax cuts with no AMT rate reduction (compare JCT below) | –463 | –857 | –1,320 | –256 | –1,576 |
| Revised Bush interest costs with no AMT rate reduction | +44 | +125 | +169 | +84 | +254 |
| Total cost of Bush tax plan with no AMT adjustment, including interest | $ 507 | $ 982 | $ 1,489 | $ 340 | $ 1,829 |
| Compare: Joint Committee on Taxation estimates of the size of the Bush tax cuts (without increased interest) | $–460 | $ –861 | $ –1,321 | na | na |
| Note: CTJ's estimate of the size of the Bush tax cuts over their first nine years if the AMT is not adjusted is virtually identical to the estimate by the Joint Committee on Taxation. The Bush campaign has promised, however, that it will take unspecified steps to fix the AMT problem. If that is the case, then CTJ's original estimate of the cost of the Bush tax cuts is more accurate. Sources: Citizens for Tax Justice, May 3, 2000 (preliminary); Bush Campaign, May 2, 2000. |
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