Congress enacted tax cuts to families in and investors in
Jun 15, The Bush-era tax cuts (,and ) comprise just 16 percent, ortrillion, of the overall swing from surpluses to deficits [including interest costs]. The other tax cuts, such as the 20stimulus bills, contributed about 12 percent to the deficit swing.
If we look at how these factors have changed over the past ten years, it becomes obvious that the Bush-era tax cuts have Estimated Reading Time: 3 mins. Jan 03, The Joint Committee on Taxation (JCT) and Congressional Budget Office estimate that making permanent all of the Bush tax cuts would have costtrillion over  That’s the price tag for making permanent: all of the income, capital gains, and dividends tax cuts first enacted under President Bush;Estimated Reading Time: 4 mins.
Sep 10, The Tax Foundation has reached a similar conclusion about the Bush tax plan. It estimates the proposal would cut taxes bytrillion over 10 years under a static estimate ortrillion using dynamic scoring. The economists--John Cogan, Martin Feldstein, Glenn Hubbard, and Kevin Warsh-- call their growth forecast stumpcut.barted Reading Time: 3 mins. Nov 27, On the basis of estimates prepared by the staff of the Joint Committee on Taxation (JCT) for the analysis, CBO reports that the combined effect of the change in net federal revenues and spending would be to increase deficits allocated to all income groups of tax-filing units in,and (see the enclosed cbo cost of bush tax cuts.
Oct 23, In CBPP estimated that, when the associated interest costs are taken into account, the Bush tax cuts (including those that policymakers made permanent) would addtrillion to deficits from to This means that the Bush tax cuts will be responsible for roughly one-third of the federal debt owed by Estimated Reading Time: 11 mins.
Feb 28, The plan lowered the top individual tax rate from % to 37% and cut the corporate tax rate from a maximum rate of 35% to a flat rate of 21%. The corporate cuts are permanent, while the individual changes expire at the end of 28 The Act is estimated to increase the deficit by 1 to 2 trillion from to Feb 05, That is slightly lower than the average growth rate CBO projected in Junebefore the tax cuts were enacted ( percent for ).
These estimates are also far below the Trump Administration’s forecast of annual growth of at least 3 percent over the next several stumpcut.barted Reading Time: 10 mins.