The Tax Policy Center Newsletter
August 15, 2008
On Thursday, the Obama campaign released more details of their tax proposal. The Tax Policy Center has incorporated the additional information in new estimates of the revenue and distributional impacts of Senator Obama's plan.
View the audio and transcripts from the Dueling Tax Plans eventA dedicated web page brings together links to all of TPC's work related to the upcoming presidential election, including:
- Revenue and distributional projections in our updated analysis of the candidates' tax plans
- Explanations of a broad range of tax issues in TPC's Tax Policy Briefing Book
- Election posts in TaxVox, TPC's blog
- Podcast discussions of election tax issues by TPC experts in the Urban Institute's Decision Points '08 .
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.
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