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T06-0085 - Conference Agreement on the Tax Increase Prevention and Reconciliation Act of 2005, Fully-Phased In Impact of Major Provisions at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Class

The House and Senate are negotiating a tax cut package for 2006. This table shows the distribution of benefits by income percentile for the following reported components of the package: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax rate cuts to 2009 and 2010, and the elimination of income limits for access to Roth IRAs. The benefits are shown as the fully-phased in impact of the provisions at 2006 income levels.

May 9, 2006