| How Much Will the Bush Tax Plan Cost? As of March 2001, $-billions |
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| fiscal years | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2002-11 |
| Campaign estimates per Joint Committee on Taxation, preliminary (no interest), May 2000 | |||||||||||
| PIT rate cuts | $ –18.3 | $ –36.1 | $ –57.3 | $ –74.6 | $ –97.8 | $ –107.3 | $ –109.5 | $ –112.0 | $ –114.5 | $ –117.0 | $ –844.4 |
| Other PIT cuts | –2.6 | –13.3 | –22.7 | –32.3 | –42.5 | –51.2 | –53.2 | –55.6 | –58.0 | –60.4 | –391.7 |
| Estate tax repeal | — | –7.8 | –8.3 | –15.9 | –23.4 | –30.7 | –42.8 | –52.0 | –55.3 | –61.0 | –297.2 |
| Corporate | –0.2 | –0.2 | –0.6 | –2.7 | –3.4 | –4.0 | –4.5 | –4.9 | –5.1 | –5.3 | –30.8 |
| SUBTOTAL | $ –21.1 | $ –57.4 | $ –88.9 | $ –125.5 | $ –167.1 | $ –193.2 | $ –210.0 | $ –224.5 | $ –232.9 | $ –243.7 | $ –1,564.2 |
| Speed up small part of PIT rate cut per Joint Committee, March 2001, and update other items for CBO Jan. 2001 projections. No AMT adjustment | |||||||||||
| PIT rate cuts* | $ –54.7 | $ –54.4 | $ –70.8 | $ –80.9 | $ –103.0 | $ –113.4 | $ –116.0 | $ –118.7 | $ –121.7 | $ –124.7 | $ –958.2 |
| Other PIT cuts | –2.7 | –13.6 | –23.2 | –32.9 | –43.4 | –52.2 | –54.2 | –56.7 | –59.2 | –61.6 | –399.6 |
| Estate tax repeal | — | –8.1 | –8.7 | –16.7 | –24.7 | –32.5 | –45.6 | –55.5 | –59.3 | –65.7 | –316.7 |
| Corporate | –0.2 | –0.2 | –0.7 | –3.3 | –4.2 | –4.9 | –5.5 | –6.1 | –6.4 | –6.7 | –38.2 |
| SUBTOTAL | $ –57.6 | $ –76.3 | $ –103.4 | $ –133.8 | $ –175.2 | $ –203.0 | $ –221.3 | $ –237.0 | $ –246.5 | $ –258.7 | $ –1,712.7 |
| Fix the AMT (Bush-caused AMT problem only, per Joint Committee, March 2001) | |||||||||||
| PIT cuts w/ AMT fix** | $ –58.4 | $ –71.7 | $ –101.0 | $ –127.1 | $ –167.3 | $ –202.2 | $ –212.7 | $ –224.2 | $ –236.4 | $ –249.1 | $ –1,650.0 |
| Estate tax repeal | — | –8.1 | –8.7 | –16.7 | –24.7 | –32.5 | –45.6 | –55.5 | –59.3 | –65.7 | –316.7 |
| Corporate | –0.2 | –0.2 | –0.7 | –3.3 | –4.2 | –4.9 | –5.5 | –6.1 | –6.4 | –6.7 | –38.2 |
| SUBTOTAL | $ –58.7 | $ –80.0 | $ –110.4 | $ –147.1 | $ –196.1 | $ –239.6 | $ –263.8 | $ –285.8 | $ –302.0 | $ –321.4 | $ –2,004.9 |
| Added interest payments | +1.9 | +5.4 | +10.6 | +17.7 | +27.2 | +39.1 | +52.9 | +68.4 | +85.5 | +104.1 | +412.7 |
| TOTAL COST | |
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| *HR 3, as passed by the House Ways and Means Committee, 3/1/2000, per Joint Committee on Taxation, 3/1/2000. **Includes the $292.2 billion ten-year cost of fixing the Bush-caused AMT problem according to the Joint Committee on Taxation, 3/1/2000. Notes: PIT means personal income tax. Very small fiscal 2001 costs due to the partial rate cut speed-up (less than $6 billion) are included in fiscal 2002 figures above. Sources: Joint Committee on Taxation, May 2000 and March 2001; Congressional Budget Office, January 2001; Citizens for Tax Justice March 2001. Citizens for Tax Justice, March 2001 |
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