Research Report Distribution of the 2001-2006 Tax Cuts
Updated Projections, July 2008
Greg Leiserson, Jeffrey Rohaly
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Since 2001, Congress has passed a major tax bill almost every year. Most have reduced taxes significantly and, since they were not accompanied by spending cuts, the resulting deficits have increased the national debt. The tax cuts total almost $2.2 trillion over ten years, and that total may be vastly understated if some or all of the cuts are extended beyond their scheduled expiration date of 2010. In addition, the cuts exacerbated the growing problem of the alternative minimum tax (AMT). Barring legislative action, more than 33 million taxpayers will fall prey to the AMT in 2010.
Research Areas Taxes and budgets
Tags Federal budget and economy
Policy Centers Income and Benefits Policy Center