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T09-0146 - Administration's FY2010 Budget Proposals Limit Itemized Deductions Administration Baseline Distribution of Federal Tax Change by Cash Income Percentile, 2012

2012 Distribution tables by cash income percentile of component of the administration?s budget proposal which would limit the rate at which itemized deductions reduce individual income tax liability to 28 percent. Run against an Administration baseline which extends the 2009 AMT patch and indexes the AMT exemption, rate bracket threshold, and phaseout exemption threshold for inflation; makes the 2001 and 2003 individual income tax cuts permanent and makes 2009 estate tax law permanent.

March 11, 2009