Converting Itemized Deductions to a Credit

Campaigns, Proposals, and Reforms: Revenue Raising Options

T07-0032 - Change Itemized Deduction to 15% Credit, Static Impact on Revenue ($ billions), 2009-13

2009-13 Static impact on tax liability and revenue of allowing taxpayers to choose between the standard deduction and a credit equal to 15 percent of itemized deductions, assuming the 2001-2006 tax cuts are extended

January 25, 2007

Campaigns, Proposals, and Reforms: Revenue Raising Options

T07-0033 - Index AMT and Increase Top Tax Rate, The Baseline is Tax Cuts Extended with the Itemized Deduction Treated as a 15% Credit and AMT Treated as in 2006, Static Impact on Revenue ($ billions), 2009-17

2009-17 Static impact on tax liability and revenue of indexing the AMT at 2006 levels and increasing the top marginal rate to 39.6 percent, assuming the tax cuts are extended and taxpayers must choose between the standard deduction and a credit equal to 15 percent of itemized deductions

March 12, 2007

Individual Taxes: Revenue Raising Options

T07-0034 - Index AMT to 2006 Levels, The Baseline is Tax Cuts Extended with the Itemized Deduction Treated as a 15% Credit and AMT Treated as in 2006, Static Impact on Revenue ($ billions), 2009-17

2009-17 Static impact on tax liability and revenue of indexing the AMT at 2006 levels, assuming the tax cuts are extended and taxpayers must choose between the standard deduction and a credit equal to 15 percent of itemized deductions

March 12, 2007