Thursday, March 24, 2011

Tax Policy Center Releases Guide to the Tax Provisions of Obama's 2012 Budget

You can check out the summary of their report below, or click here to download the complete analysis in PDF format.

    The Tax Policy Center has examined the key tax proposals in President Obama’s 2012 budget. Separate discussions below describe each of the proposals including current law, proposed changes, and, when appropriate, the distributional effects. The budget as presented by the president lacks complete details on many of the tax proposals. Some provisions had virtually no detail, and our discussion of them is necessarily limited.

    The budget assumes a baseline in which the 2001–03 tax cuts are permanently extended for single people with income under $200,000 and couples with income under $250,000, the estate tax permanently reverts to its 2009 level, and parameters for the alternative minimum tax (AMT) are permanently indexed for inflation from their 2011 levels.

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