Legislative update - JCT estimates revenue loss of reducing individual, corporate rates to 25% 

July 31:  In a letter to Rep. Sander Levin (MI), the ranking Democrat on the House Ways and Means Committee, Joint Committee on Taxation (JCT) Chief of Staff Thomas Barthold said the reduction of the top corporate tax rate and repeal of the corporate alternative minimum tax (AMT) would cost $1.3 trillion over 10 years.

In a separate estimate, JCT said reducing the individual tax rates to 25% and 10%, with no AMT, would cost $3.8 trillion.

Documents

Read the JCT revenue estimate [PDF 58 KB] of lowering individual rates to 25% and 10% and repealing AMT.


Read the JCT revenue estimate [PDF 51 KB] of lowering the corporate rate to 25% and repealing AMT.


The Ways and Means Committee Democratic staff also released a five-page list of individual and business tax expenditures, compiled from the JCT’s annual report. Read the list of federal tax expenditures [PDF 75 KB] for fiscal years 2013-2017.




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