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An Analysis of the House GOP Tax Plan

Leonard E. Burman; James R. Nunns; Benjamin R. Page; Jeffrey Rohaly; Joseph Rosenberg

Title:
An Analysis of the House GOP Tax Plan
Author(s):
Burman, Leonard E.
Nunns, James R.
Page, Benjamin R.
Rohaly, Jeffrey
Rosenberg, Joseph
Date:
Type:
Articles
Department(s):
Law
Volume:
8
Persistent URL:
Book/Journal Title:
Columbia Journal of Tax Law
Abstract:
This paper analyzes the House GOP tax reform blueprint, which would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and most itemized deductions, and convert business taxation into a destination-based cash flow consumption tax. Taxes would drop at all income levels in 2017, but the highest-income households would gain the most. Federal revenues would fall by $3.1 trillion over the first decade (static) and $3.0 trillion after accounting for macroeconomic feedback effects. Including added interest costs, the federal debt would rise by at least $3.6 trillion over the first decade and by as much as $9.2 trillion by the end of the second ten years.
Subject(s):
Taxation--Government policy
Taxation--Law and legislation
Federal government
Republican Party (U.S. : 1854- )
Item views
45
Metadata:
text | xml
Suggested Citation:
Leonard E. Burman, James R. Nunns, Benjamin R. Page, Jeffrey Rohaly, Joseph Rosenberg, , An Analysis of the House GOP Tax Plan, Columbia University Academic Commons, .

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