T07-0337 - Major Ind. Income and Estate Tax Components of Former Sen. Fred Thompson's Tax Plan Against a Baseline with the 2001-2006 Tax Cuts Extended and a Permanent AMT Patch, Static Impact on Ind. Income and Estate Tax Liability and Revenue ($ billions), 2009-18
2009-18 Static impact on individual income and estate tax liability and revenue for the major individual income and estate tax components of former Senator Fred Thompson's tax plan against a baseline with the 2001-2006 tax cuts extended and a permanent AMT patch. Provisions repeal the individual alternative minimum tax (AMT) and allow taxpayers a choice between the current tax system and an alternative tax system with no itemized deductions or credits but larger standard deductions and personal exemptions and lower rates.