Fiscal Year 2010 Administration's Budget Proposal

2012 distribution, by cash income percentile, of federal tax change from extending and indexing the 2009 AMT patch.

2012 distribution, by cash income percentile, of federal tax change from making the 2001 and 2003 tax cuts permanent.

2012 distribution, by cash income percentile, of the federal tax change from making the 2009 estate tax law permanent compared to current law.

2012 distribution, by cash percentile, of federal tax change associated with the Administration's baseline compared to current law.

2012 distribution, by cash income percentile, of federal tax change from the major individual income tax provisions included in the Administration's Fiscal Year 2010 budget. These include extending the Making Work Pay Credit, the expansion of the EITC, expansion of the refundability of the CTC and Saver's credit, and the American Opportunity tax credit. Automatic 401(k)s and IRAs would be created and the 36 percent and 29.6 percent rates would be reinstated. A 20% rate on capital gains and personal exemption phaseouts and limitations on itemized deductions would apply to tax units with income above $200,000 ($250,000 for couples). The rate at which itemized deductions reduce tax liability would be limited to 28 percent.

2012 distribution, by cash income percentile, of federal tax change from the major individual income tax provisions included in the Administration's Fiscal Year 2010 budget compared to the Administration's baseline. The proposal includes extending the Making Work Pay Credit, the expansion of the EITC, expansion of the refundability of the CTC and Saver's credit, and the American Opportunity tax credit. Automatic 401(k)s and IRAs would be created and the 36 percent and 29.6 percent rates would be reinstated. A 20% rate on capital gains and personal exemption phaseouts and limitations on itemized deductions would apply to tax units with income above $200,000 ($250,000 for couples). The rate at which itemized deductions reduce tax liability would be limited to 28 percent.

2012 distribution, by cash income percentile, of federal tax change of major tax provisions included in the Administration's Fiscal Year 2010 budget. The proposal includes extending the Making Work Pay Credit, the expansion of the EITC, expansion of the refundability of the CTC and Saver's credit, and the American Opportunity tax credit. Automatic 401(k)s and IRAs would be created and the 36 percent and 29.6 percent rates would be reinstated. A 20% rate on capital gains and personal exemption phaseouts and limitations on itemized deductions would apply to tax units with income above $200,000 ($250,000 for couples). The rate at which itemized deductions reduce tax liability would be limited to 28 percent. The estate tax is maintained at its 2009 parameters. Corporate income tax measures included were making the research and experimentation tax credit permanent; expanding net operating loss carryback, taxing carried interest as ordinary income, repealing LIFO, and implementing international enforcement, reform deferral and other reform policies.

2012 distribution, by cash income percentile, of federal tax change of major tax provisions included in the Administration's Fiscal Year 2010 budget compared to the Administration's baseline. The proposal includes extending the Making Work Pay Credit, the expansion of the EITC, expansion of the refundability of the CTC and Saver's credit, and the American Opportunity tax credit. Automatic 401(k)s and IRAs would be created and the 36 percent and 29.6 percent rates would be reinstated. A 20% rate on capital gains and personal exemption phaseouts and limitations on itemized deductions would apply to tax units with income above $200,000 ($250,000 for couples). The rate at which itemized deductions reduce tax liability would be limited to 28 percent. The estate tax is maintained at its 2009 parameters. Corporate income tax measures included were making the research and experimentation tax credit permanent; expanding net operating loss carryback, taxing carried interest as ordinary income, repealing LIFO, and implementing international enforcement, reform deferral and other reform policies.

2012 distribution, by cash income percentile, of federal tax change from extending the Making Work Pay Credit compared to the Administration?s baseline.

2012 distribution, by cash income percentile, of federal tax change of individual income tax provisions that impact low and middle income tax payers. These include extending the Making Work Pay credit, the expansion of the EITC, the expansion of the CTC refundability, the American Opportunity Tax Credit, expanded refundability of the saver's credit, and the creation of automatic 401(k)s and IRAs.

2012 Distribution tables by cash income percentile of components of the administration?s budget proposal which would repeal individual income tax cuts for high income taxpayers. This includes reinstating the 36 percent and 39.6 percent rates; reinstating the personal exemption phaseout and limitation on itemized deductions for those taxpayers with AGI over $250,000 (married) and $200,000 (single); and imposing a 20 percent rate on capital gains and dividends for those taxpayers with AGI over $250,000 (married) and $200,000 (single). 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.

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.