Federal Budget & Tax

Federal Budget & Tax: News Blog Background

Wednesday, March 10, 2004

Americans For a Fair Estate Tax Statement on the Budget
The Senate is currently debating a 5-year budget plan that accelerates repeal of the estate tax to 2009. Here is the statement from Americans for a Fair Estate Tax on the proposed budget.

Statement on Senate Action on Estate Tax in FY2005 Budget

Posted by John S. Irons, 12:55:21 PM

Friday, March 05, 2004

Senate's Budget
The Senate Budget Committee has reported out a budget which includes includes $80.6 billion in tax cuts which would have reconciliation protection. Of this, around 3 billion is for repeal of the estate tax in 2009. The low cost figure is likely due to the fact that most of the revenue effects would take place outside of the 5 year budget window in 2010. The remaining $77 billion is used for the 3 "middle class" tax cuts - child credit, 10% bracket, and marriage penalty.

In addition to the tax provisions, there are cuts to a wide array of vital domestic programs. See Budget Priorities Gone Awry, from the Center on Budget and Policy Priorites for more information.

Posted by John S. Irons, 12:27:43 PM

Wednesday, March 03, 2004

Cost of Estate Tax Repeal
Acording to the Joint Committee on Taxation, making permanent an estate tax repeal would cost $206 billion over the next ten years.

See x-14-04r.pdf (application/pdf Object)

Posted by John S. Irons, 03:37:59 PM