August 13, 1999 05:36 PM | | Bookmark and Share

The official congressional estimates of the cost of the GOP’s proposed capital gains tax cut show an unusual blip in fiscal 2001, when the capital gains tax cut is supposed to boost federal revenues by a net $15.5 billion. Likewise, the Joint Committee on Taxation’s distributional table showing its controversial estimates of the effects of certain of the tax cuts in calendar 2000 claims that the overall tax cut bill will be a net tax increase of $16.4 billion in that year.

  • After accounting for the small non-capital-gains tax cuts that are included in the distribution table, this means that the Joint Committee expects a net capital gains tax increase in calendar 2000 of $18.9 billion as a result of the tax cut plan.

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