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Tax Topics

Tax Topics

2009 Tax Stimulus
2012 Election Tax Plans
2014 Budget
Alternative Minimum Tax (AMT)
American Jobs Act of 2011
Brief Description of the Model 2013
Current-Law Distribution of Taxes
Deficit Reduction Proposals
Distribution of the 2001 - 2008 Tax Cuts
Earned Income Tax Credit
Economic Stimulus
Education Tax Incentives
Estate and Gift Taxes
Expiration of the Bush Tax Cuts
Explanation of Income Measures 2013
Federal Budget
Fiscal Cliff
Fiscal Crisis
Flow-Through-Enterprises
Guide to TPC Tables
Health Insurance Tax Incentives
Homeownership
How to Interpret Distribution Tables 2013
Marriage Penalties
Model FAQ 2013
Model Related Resources and FAQs
Payroll Taxes
Presidential Transition - 2009
Recent Tax Stimulus Legislation
Retirement Saving
Tax Encyclopedia Index
Tax Expenditures
Tax Reform Proposals
Value-Added Tax (VAT)
Who Doesn't Pay Federal Taxes?
Working Families

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Guide To Tables: Fiscal Cliff Analysis

The United States is fast approaching what many observers call the “fiscal cliff.” If the president and Congress do not act, taxes would jump for most Americans and government spending would drop sharply. Those changes would reduce the federal deficit significantly in 2013 and subsequent years, slowing America's build-up of debt and reducing debt as a share of GDP. But according to the Congressional Budget Office, the resulting macroeconomic tightening could well push the country back into recession in 2013. Lawmakers could soften that near-term hit by delaying or repealing provisions in the "cliff" or by enacting other spending and tax policies that would provide offsetting support for the economy.

To provide context for these policy discussions, the Tax Policy Center has released a report that provides a detailed look at the pending tax increases and documents their potential effects on federal revenue, the distribution of the tax burden, and economic incentives.

The full report is available here.

The following is a guide to the report's accompanying tables.

Revenue Estimates
Tax Units with a Tax Increase, 2013

Distribution Tables for 2013
All Fiscal Cliff Provisions
Separate Sets of Provisions, Added Sequentially
1. Payroll Tax
2. Health Care Law Provisions
3. High Income Capital Gains and Dividends
4. High Income Rates, Pease, and PEP
5. Stimulus Legislation EITC, CTC, and AOTC
6. Extenders
7. Estate Tax
8. Other 2001-2003 Tax Provisions
9. Alternative Minimum Tax Patch

Effective Marginal Tax Rates, 2013