| Corporate Tax Subsidies in the House & Senate 1997 Tax Plans | House | Senate | Effective | Official Estimate | CTJ Re-Estimate | ||
| (Estimated cost in millions of dollars) | Bill | Bill | dates | 5-yr cost | 10-yr cost | 5-yr cost | 10-yr cost |
| Repeal most of corporate Alternative Minimum Tax (timber, oil, etc.) | YES | no | 1/1/1999 on | $ 11,774 | $ 22,190 | $ 23,690 | $ 71,200 |
| Corporate capital gains breaks for timber, insurance corps., etc. | YES | no | 1/1/1998 on | 7,779 | 18,889 | 9,300 | 22,700 |
| Added real estate capital gains conversion tax sheltering | YES | YES | 5/7/1997 on | 2,090 | 4,494 | 2,090 | 4,494 |
| R&E tax credit extension | YES | YES | 19-24 mon. | 4,204 | 4,380 | 4,204 | 4,380 |
| Extend ethanol tax breaks past 2000 (with slight modifications) | no | YES | 2001-07 | 946 | 3,656 | 946 | 3,656 |
| 50% credit for business-paid day care costs (in addition to regular deds.) | no | YES | 98 & 99 | 2,606 | 2,625 | 2,606 | 2,625 |
| Special capital gains breaks for certain risky investments (retroactive) | no | YES | 8/10/1993 on | 719 | 2,244 | 719 | 2,244 |
| Independent contractor safe harbor rule | YES | no | 1/1/1998 on | 1,012 | 2,205 | 14,340 | 38,200 |
| New tax breaks for exports of software | YES | YES | 1/1/1998 on | 568 | 1,717 | 568 | 1,717 |
| New tax-exempt bond breaks for private college bonds, etc. | YES | YES | 1/1/1998 on | 314 | 960 | 314 | 960 |
| Business tax credits for certain wages (paid to welfare recipients, etc.) | YES | YES | 12-20 mon | 860 | 874 | 860 | 874 |
| AMT breaks for farming businesses (retroactive) | YES | YES | 1/1/1988 on | 811 | 873 | 811 | 873 |
| Increase tax breaks for multinational employees living abroad | YES | no | 1/1/1998 on | 244 | 801 | 244 | 801 |
| Extra corporate tax deductions for donations of used computers, etc. | YES | no | 1/1/1998 on | 268 | 688 | 268 | 688 |
| Increase foreign tax credits for dividends from partially owned cos. | YES | no | 1/1/1998 on | 32 | 497 | 32 | 497 |
| Repeal short-term stock sale limits on regulated investment cos. | YES | YES | DOA on | 134 | 447 | 134 | 447 |
| Tariff breaks for Sara Lee, etc. | YES | no | 1998 | 217 | 217 | 217 | 217 |
| Additional tax-exempt bond arbitrage | no | YES | 1/1/1998 on | 37 | 201 | 37 | 201 |
| Income averaging for farm businesses | no | YES | 1/1/2001 on | 168 | 168 | 168 | 168 |
| Added percentage depletion for certain oil production | YES | no | 98&99 | 164 | 164 | 164 | 164 |
| Special rule for consolidating life-insurance ops. of savings banks (retro.) | YES | no | 12/31/1991 on | 61 | 96 | 61 | 96 |
| Exception from foreign personal holding company rules | no | YES | 1998 | 94 | 94 | 94 | 94 |
| Special rule for thrifts that became [sic] large banks (retroactive) | no | YES | retroactive | 32 | 39 | 32 | 39 |
| Eliminate withholding on foreign ship employees | no | YES | 1/1/1998 on | 15 | 30 | 15 | 30 |
| Treatment of securities positions under Subpart F | no | YES | 1/1/1998 on | 9 | 19 | 9 | 19 |
| Independent contractor status for bakery drivers | YES | no | 1/1/1998 on | 15 | 18 | 15 | 18 |
| Totals, 26 Provisions: | 17 | 16 | $ 35,173 | $ 68,586 | $ 61,938 | $157,402 | |