Tax Cut Questions
How much have the cut enacted by the Bush Administration cost thus far (as opposed to future projections)?
Other Sources:
Brookings Institute: Tax Cuts and Budget Policy
The Cost of Tax Cuts (Brookings Institute)
Bush Administration Tax Policy: Short-Term Stimulus (Brookings Institute)
Especially relevant in the context of this:
* Through fiscal year 2005, the Bush tax cuts enacted since 2001 have cost $819 billion. Before they expire, they will cost another $1 trillion, for a total cost of $1.9 trillion.
* Because these tax cuts have not been paid for, their cost represents a permanent increase in the debt. The associated interest payments will continue even after the time when the enacted tax cuts are scheduled to expire. That is why the graph on the previous page shows a cost associated with the enacted tax cuts of more than $100 billion a year even after they have expired in 2010. In total, the interest costs associated with the enacted tax cuts will be $1.1 trillion through 2015.
* The combined cost of the tax cuts enacted since 2001 and the cost of extending the tax cuts would be $5.1 trillion through 2015, when interest costs are included. Of that total, $4.2 trillion would occur in the period between 2006 and 2015
Source: Center on Budget and Policy Priorities
* Because these tax cuts have not been paid for, their cost represents a permanent increase in the debt. The associated interest payments will continue even after the time when the enacted tax cuts are scheduled to expire. That is why the graph on the previous page shows a cost associated with the enacted tax cuts of more than $100 billion a year even after they have expired in 2010. In total, the interest costs associated with the enacted tax cuts will be $1.1 trillion through 2015.
* The combined cost of the tax cuts enacted since 2001 and the cost of extending the tax cuts would be $5.1 trillion through 2015, when interest costs are included. Of that total, $4.2 trillion would occur in the period between 2006 and 2015
Source: Center on Budget and Policy Priorities
Other Sources:
Brookings Institute: Tax Cuts and Budget Policy
The Cost of Tax Cuts (Brookings Institute)
Bush Administration Tax Policy: Short-Term Stimulus (Brookings Institute)
Especially relevant in the context of this:
Congested highways, overflowing sewers and corroding bridges are constant reminders of the looming crisis that jeopardizes our nation's prosperity and our quality of life. With new grades for the first time since 2001, our nation's infrastructure has shown little to no improvement since receiving a collective D+ in 2001, with some areas sliding toward failing grades. The American Society of Civil Engineers' 2005 Report Card for America's Infrastructure assessed the same 12 infrastructure categories as in 2001, and added three new categories. Access the complete Report Card with details on each infrastructure category and state infrastructure information.
Total Investment Needs = $1.6 Trillion
(estimated 5-year need--does not include security investment needs)
Source: ACSE Report Card for America's Infrastructure
Total Investment Needs = $1.6 Trillion
(estimated 5-year need--does not include security investment needs)
Source: ACSE Report Card for America's Infrastructure
posted by Tom at
11:15 AM
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